Question

What sum of money will earn an interest of ₹160 at the rate of 4% per year for 2 year​

Answer 1

Answer:

S.I=Rs.340,Time=2 years,R=4%

(i)Let the sum of money be rs.x

S.I=  

100

PRT

​  

 

⇒340=  

100

x×4×2

​  

 

⇒x=  

4×2

340×100

​  

=Rs.4250

(ii)C.I for Rs. 4250 for one year payable half-yearly

∴ T=1 year=2 half year,Rate=  

2

4

​  

=2%

A=P(1+  

100

R

​  

)  

T

 

⇒4250(1+  

100

2

​  

)  

2

 

⇒4250(  

100

102

​  

)  

2

 

⇒4250×  

50

51

​  

×  

50

51

​  

=4421.70

C.I=A−P

⇒4421.70−4250=Rs.171.70

Step-by-step explanation:

Answer 2

Answer:

Explanation:

Given :

• Simple Interest (I) = ₹ 160
• Rate of interest (R) = 4 %
• Time (T) = 2 year

To Find :

• Sum of money, P.

Formula to be used :

• Simple interest formula, ie,, S.I = P × R × T/100

Solution :

Applying simple interst formula,

S.I = P × R × T/100

⇒160 = P × 4 × 2/100

⇒160 = P × 6/100

⇒160 × 100 = P × 6

⇒16000 = P × 6

⇒ P = 16000/6

⇒ P = ₹ 2666.6

Hence, Sum of money is ₹ 2666.6.