Question

Vineet borrows a sum of 3 50,000 at the rate of 10% p.a. for 6 years. Find the simple
interest that Vineet has to pay. Also calculate the amount to be paid after 6 years.​

Answer 1

Answer:

210000

Step-by-step explanation:

simple intrest = PRT/100

so

350000*10*6/100

100 cancels 10 and 1 zero in 350000

so we get 35000*6

= 210000

Answer 2

Answer :-

• Vineet has to pay Rs 210000 as simple interest.

• The amount to be paid after 6 years is Rs 560000.

Given :-

• Vineet borrows a sum of Rs 3,50,000 at the rate of 10% p.a. for 6 years.

To find :-

• The simple interest that Vineet has to pay.

• The amount to be paid after 6 years.

Step-by-step explanation :-

• In this question, it has been given that Vineet borrows a sum of Rs 3,50,000 at the rate of 10% p.a. for 6 years. We have to find the simple interest that Vineet has to pay and also calculate the amount to be paid after 6 years.

• The money borrowed by Vineet can be taken as the principal. We can take 10% as the rate and 6 years as the time. Now let's find the simple interest on Rs 3,50,000 at the rate of 10% p.a. for 6 years. It will be the simple interest that Vineet has to pay. We are going to do this using a formula.

Calculations :-

We know that :-

$\underline{\boxed{\sf SI = \dfrac{Principal \times Rate \times Time}{100}}}$

Here,

• Principal = Rs 3,50,000.
• Rate = 10% per annum.
• Time = 6 years.

$\underline{\mathfrak{Substituting \: these \: values \: in \: this \: formula,}}$

$\boxed{\tt Simple \: Interest = \dfrac{3500 \!\!\!\not0 \!\!\!\not0 \times 10 \times 6}{1 \!\!\!\not0\!\!\! \not0}}$

Cutting off the zeroes,

$\boxed{ \tt Simple \: Interest = \dfrac{3500 \times 10 \times 6}{1}}$

Now let's multiply the remaining numbers, since we can't reduce them anymore.

$\boxed{\tt Simple \: Interest = 3500 \times 10 \times 6}$

On multiplying the numbers,

$\overline{\boxed{\tt Simple \: Interest = Rs \: 210000.}}$

• So, Vineet has to pay Rs 2,10,000 as simple interest.

------------------------

• Now, let's find the total amount to be paid after 6 years.

We know that :-

$\underline{\boxed{ \sf Amount = Principal + Interest.}}$

Here,

• Principal = Rs 3,50,000.
• Interest = Rs 2,10,000.

Hence,

$\boxed{ \tt Amount = 350000 + 210000}$

On adding the numbers,

$\overline{\boxed{ \tt Amount = Rs \: 560000.}}$

• So, the amount to be paid after 6 years is Rs 560000.