Question

Vineet deposited rupees 8500 in a finance company which pays 18% interest per year find the amount he will receive after 18 months

Answer 1

$\textbf{\large{\underline{Answer :-}}}$

Vineet will get Rs.10795 after 18 months.

$\textbf{\large{\underline{Explaination}}}$

$\textbf{\large{\underline{Given :-}}}$

Vineet deposited = Rs.8500

Interest % per year = 18%

$\textbf{\large{\underline{To find :-}}}$

Amount Vineet will recieve after 18 months.

$\textbf{\large{\underline{Solution :-}}}$

To find the final amount Vineet will get, first we need to find the Simple Interest.

Principal = Rs.8500

Rate of interest = 18%

Time = 18 months into years = 1.5

$\tt{\rightarrow SI = </p><p></p><p>\dfrac{ P \times R \times T }{100}}$

$\tt{\Rightarrow \: SI = \dfrac{8500 \times 18 \times 1.5}{100} }$

$\tt{\Rightarrow \: SI = \dfrac{15300 \times 1.5}{100} }$

$\tt{\Rightarrow \: SI \: = \dfrac{229900}{100}}$

$\tt{\Rightarrow \: SI \: = \dfrac{2299{\cancel{00}}}{1{\cancel{00}}}}$

$\tt{\Rightarrow \: SI = 2299}$

$\tt{\rightarrow SI = 2299}$

$\tt{\rightarrow \: Amount = SI + P }$

$\tt{\Rightarrow \: Amount = 2299 + 8500}$

$\tt{\Rightarrow 10795}$

$\therefore$Vineet will get Rs.10795 after 18 months.