Question

what sum amounts to 1044 in 4 years, at the rate of interest of 4% per annum

Answer 1

Given:

• Principal = Rs. 1044

• Rate = 4 %

• Time = 4 years

What To Find:

We have to find the amount.

Formula:

$\mathfrak{Simple \: Interest = \dfrac{Principal \times Rate \times Time}{100}}$

$\mathfrak{Amount = Principal + Simple \: Interest}$

Solution:

Using the formula,

$\sf{ \Longrightarrow Simple \: Interest = \dfrac{Principal \times Rate \times Time}{100}}$

Substitute the values,

$\sf{ \Longrightarrow Simple \: Interest = \dfrac{1044 \times 4 \times 4}{100}}$

Multiply the numerator,

$\sf{ \Longrightarrow Simple \: Interest = \dfrac{16704}{100}}$

Divide 16704 by 100,

$\sf{ \Longrightarrow Simple \: Interest = Rs. 167.04}$

Now add the Principal and SI,

$\sf{ \Longrightarrow Amount = Rs. \: 1044 + Rs. 167.04}$

Add,

$\sf{ \Longrightarrow Amount = Rs. \: 1,211.04}$

∴ Thus, the amount is Rs. 1211.04.

Answer 2

Given :

• Principal (P) = Rs 1044
• Rate (R) = 4% p.a
• Time (T) = 4years

To Find :

• Amount

Solution :

⟹ Simple Interest = P × R × T / 100

⟹ Simple Interest = 1044 × 4 × 4 / 100

⟹ Simple Interest = 1044 × 16 / 100

⟹ Simple Interest = 16,704 / 100

⟹ Simple Interest = Rs 167.04

Now,

➞ Amount = S.I + P

➞ Amount = 167.04 + 100

➞ Amount = Rs 267.04

Thus Amount is Rs 267.04

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★ Additional Info :

$\small\boxed{\begin{array}{cc}\large\sf\dag \: {\underline{More \: Formulae}} \\ \\ \bigstar \: \sf{Principle :- \dfrac{SI \times 100}{R \times T}} \\ \\\bigstar \: \sf{Rate \: of \: Interest :- \dfrac{SI \times 100}{P \times T}} \\ \\ \bigstar \: \sf{Time :- \dfrac{SI \times 100}{P \times R}}\end{array}}$