Question

What sum will amount to ₹9,520 at 9% p.a. in 4 years at simple interest?

please say me the ansits urgent​

Answer 1

Answer:

Considering that you will give money on Simple interest on 9% per annum.

Simple formula amount formula,

A=P +SI

AMOUNT COMES out to 7000(one time investment) provided interest rate remains constant.

I don't how you will get 9% simple interest. IF you 9% interest in normal cases is extremly good.

Case 2) Compound interest

A =P +(1+r/100)^n

9520=x +(1+9/100)^4

6744.160=x

You will get compund interest in PFF, some specials loans, and in some investments.

9520 is very small amount so I would recommend to earn some and then give money. Even if it is a bank, a bank like kotak 10k as minimum amount as deposit.

So wait and earn more.

Invest in bitcoins and stocks after lot of thinking.

Answer 2

Given:

$\text{Amount=Rs.9520}$

$\text{Rate of interest, r=9\%}$

$\text{No. of years, n=4 years}$

$\text \pink{Solution}$

$\text{Using the formula,}$

$\textbf \pink{Amount=}\bf\;P+\displaystyle\frac{P\,n\,r}{100}$

$\implies\text{Amount=}\;\displaystyle\frac{100P+P\,n\,r}{100}$

$\implies\text{Amount=}\;\displaystyle\frac{100P+P(4)(9)}{100}$

$\implies\text{9520=}\;\displaystyle\frac{100P+36P}{100}$

$\implies\text{9520=}\;\displaystyle\frac{136P}{100}$

$\implies\text{70=}\;\displaystyle\frac{P}{100}$

$\implies\text \pink{P=7000}$

$\textbf{The required sum of money is Rs. 7000}$