Question

What principal amount should Reema take at the rate of 10.5 % for 3 years and 4 months, to pay the interest of ₹ 4200? How much amount would Reema have to pay?

Answer 1

Acc to ques, we have to find principal amount should Reema take at the rate of 10.5 % for 3 years and 4 months, to pay the interest of ₹ 4200.

Rate of interest = 10.5%

Time = 3 yrs 4 months.

Interest = ₹ 4200.

Principal = ?

Principal = (Interest x 100) / (Rate x Time)

or, Principal = (4200 x 100) / (10.5 x 10/3)

or, Principal = 420000 / 35 = Rs 12000.

Therefore, Reema have to pay Rs 12,000.

Answer 2

Hi ,

It is given that ,

Rate of interest ( R ) = 10.5 %

Time ( T ) = 3 years 4 months

= ( 3 + 4/12 ) years

= ( 3 + 1/3 ) years

= 10/3 years

Simple interest ( I ) = Rs 4200

Let Principal = Rs P

We know that ,

( PTR )/100 = I

P = ( 100 × I )/( TR )

P = ( 100 × 4200 )/[ ( 10/3 ) × 10.5 ]

After cancellation, we get

P = Rs 12000

Now ,

Amount Reema has to pay ( A ) = P + I

A = Rs 12000 + Rs 4200

A = Rs 16200

I hope this helps you.

: )