Question

What amount should Shrikant deposit in a bank to receive 2000
interest for 2 years at the rate of 8 p.c.p.a.?
​

Answer 1

simple intrest = ₹2000

rate = 8%

time = 2 years

principal = simple intrest * 100 / rate * time

= ₹2000 * 100 / 8 * 2

= ₹200000 / 16

= ₹12500

there fore , shrikant had to deposit ₹12500 to recieve ₹2000 as simple interest

Answer 2

₹12500 amount should Shrikant deposit in a bank to receive 2000 interest for 2 years at the rate of 8 p.c.p.a.

Step-by-step explanation:

GIVEN

Simple Interest = 126

Time = 2 years

Rate = 14%

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TO FIND

What amount should Shrikant deposit in a bank to receive 2000 interest for 2 years at the rate of 8 p.c.p.a.

___________________________

We know that,

Simple Interest = ( Principal × Rate × Time ) / 100

Principal = ( Simple Interest × 100 ) / ( Rate × Time )

Principal = ( 2000 × 100 ) / ( 8 × 2 )

Principal = 200000 / 16

Principal = 12500

Principal = ₹12500

₹12500 amount should Shrikant deposit in a bank to receive 2000 interest for 2 years at the rate of 8 p.c.p.a.

___________________________

IMPORTANT

Simple Interest = ( Principal × Rate × Time ) / 100

Principal = ( Simple Interest × 100 ) / ( Rate × Time )

Rate = ( Simple Interest × 100 ) / ( Principal × Time )

Time = ( Simple Interest × 100 ) / ( Principal × Rate )