Question

What sum will amount rs 6240 at 10% per Annum simple interest in 2 years be?

Answer 1

Answer:

,

Step-by-step explanation:

Principle= ₹6240

R%= 10%

T= 2 years

Amount= P (1+R/100)raised to the power 2

= 6240(1+10/100)raised to the power 2

= 6240(110/100)raised to the power 2

= 6240(110/100)(110/100)

= (312x 11x 11)/5

= ₹7,550.4

Therefore, amount= ₹7,550.4

Answer 2

Given: A sum amounts to Rs 6240 at 10% per annum simple interest in 2 years

To find: Sum that is invested

Explanation: Let the sum be denoted by p, rate be denoted by r and time be denoted by t.

r= 10%

t= 2 years

The formula for simple interest used is:

Simple interest= p*r*t / 100

= p *10*2 / 100

= p/5

Now,

Amount= Sum + Simple interest

= p + p/5

= 6p/5

But, amount is given as Rs. 6240

Therefore,

6p/5 = 6240

=> p = 6240*5 /6

=> p = 5200

Therefore, the sum invested is Rs. 5200.