Question

What sum will amount to Rupees 1292 in 3 years at 12% per annum simple interest?

Please help me to answer this question. Efforts will be apprecaited.

Answer 1

Given :-

Time (T) = 3 years

Rate Of Interest = 12%

Amount (A) = Rs. 1292

To Find :-

The sum of money or Principal (P).

Formula to be used :-

Simple Interest = $\frac{P \times R\times T}{100}$

Amount = S.I. + Principal

Solution :-

Let the sum of money be Rs. P.

Substituting the values given in the Simple Interest formula,

S.I. = $\frac{P \times 12 \times 3}{100} = \frac{P \times 36}{100} =\frac{36\:P}{100}$

Now,

Amount = S.I. + Principal

$=>Rs. \:1292= \frac{36\:P}{100} + P \\\\=>Rs. \:1292= \frac{36\:P+100\times P}{100}\\\\=>Rs. \:1292= \frac{136\:P}{100}\\\\=>Rs. \:1292\times 100 = 136\:P\\\\=> \frac{Rs. \:1292\times 100}{136}=P\\\\=>P=Rs. \:950$

Answer :-

The sum of money is Rs. 950.

More Information :-

$\star$ Principal = $\frac{Simple\:\:Interest \times 100}{Rate\:\:\times Time}$

$\star$ Rate = $\frac{Simple\:\:Interest \times 100}{Principal\:\:\times Time}$

$\star$ Time = $\frac{Simple\:\:Interest \times 100}{Principal\:\:\times Rate\:\:Of\:\:Interest}$

$\star$ Simple interest = $\frac{Principal\:\:\times Rate\:\:Of\:\:Interest \times Time}{100}$

Answer 2

Solution :-

Let the sum of money be Rs. P.

Substituting the values given in the Simple Interest formula,

S.I. = $\frac{P \times 12 \times 3}{100} = \frac{P \times 36}{100} =\frac{36\:P}{100}$

Now,

Amount = S.I. + Principal

$=>Rs. \:1292= \frac{36\:P}{100} + P \\\\=>Rs. \:1292= \frac{36\:P+100\times P}{100}\\\\=>Rs. \:1292= \frac{136\:P}{100}\\\\=>Rs. \:1292\times 100 = 136\:P\\\\=> \frac{Rs. \:1292\times 100}{136}=P\\\\=>P=Rs. \:950$

The sum of money is Rs. 950.