Question

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

Answer 1

GIVEN :

Simple Interest (S.I) =₹ 4200

Rate of interest(R )= 10.5 %

Time (T) = 3 years 4 months = 3 4/12 = 3 ⅓ = 10/3 years

[ 1 month = 1/12 year ]

Simple Interest (S.I) = (P × R × T) /100

Principal (P) = S.I × 100 / R × T

P = 4200 × 100 /( 10.5 × 10/3)

P = 4200 × 100 × 3 × 10 / 105 × 10

P = 420000 / 35 = 60000/5 = ₹ 12000

Principal (P) = ₹ 12000

AMOUNT (A) = PRINCIPAL + SIMPLE INTEREST

A = P + S.I

A = 12000 + 4200 = ₹ 16200

AMOUNT (A) = ₹ 16200

Hence, the sum to be borrowed by Reema is ₹ 12,000 & total amount to be paid by Reema is ₹ 16,200.

HOPE THIS ANSWER WILL HELP YOU...

Answer 2

Hi ,

It is given that ,

Rate of interest ( R ) = 10.5 %

Time ( T ) = 3 years 4 months

T = 3 years + ( 4/12 ) years

= ( 3 + 1/3 )

= 10/3 years

Interest ( I ) = Rs 4200

Let the Principal = Rs P

We know that ,

P = ( 100 × I )/( TR )

P = ( 100 × 4200)/[ ( 10/3 ) × 10.5 ]

P = ( 100 × 4200 × 3 )/( 10 × 10.5 )

P = Rs 12000

Therefore ,

Reema took Rupees Rs 12000

Amount she has pay = A

A = P + I

A = Rs 12000 + Rs 4200

A = Rs 16200

I hope this helps you.

: )