Question

What sum of amount gives rs280 as interest at simple interest of 0.25% for 2 years?​

Answer 1

GIVEN

Interest = Rs.280

Rate of Interest = 0.25%

Time = 2yrs

TO FIND 1. Principle 2.Amount

SOLUTION :-

We know that ;

$s.i. = \frac{p \times r \times t}{100} \\ \\ \\ \\ \implies 280 = \frac{p \times 0.25 \times 2 }{100} \\ \\ \\ \implies 280 = \frac{p \times \frac{25}{100} \times 2 }{100} \\ \\ \\ \\ \implies 280 = \frac{p \times \frac{1}{2} }{100} \\ \\ \\ \\ \implies 28000 = \frac{p}{2} \\ \\ \\ \\ \implies \boxed{p = 56000}$

Hence the Principle Amount is Rs.56000.

(ANS)

Total Amount to be paid at the end is

= Principle + Intrest

= 56000 + 280

= Rs. 56280 (ANS)