What sum will yield an interest of Rs. 7500 in 2 years at 12½% p.a.?
Answers
Answered by
5
Principal = ₹30000
Amount = ₹37500
Step-by-step explanation:
GIVEN
Interest = ₹7500
Rate = 12½ p.a. = 12.5 p.a.
Time = 2 Years
___________________________
TO FIND
Principal , Amount
___________________________
We know that,
Interest = ( Principal × Rate × Time ) / 100
Principal = ( Interest × 100 ) / ( Rate × Time )
Principal = ( 7500 × 100 ) / ( 12.5 × 2 )
Principal = 750000 / 25
Principal = 30000
Principal = ₹30000
___________________________
We know that,
Amount = Principal + Interest
Amount = 30000 + 7500
Amount = 37500
Amount = ₹37500
___________________________
IMPORTANT
Simple Interest = ( Principal × Rate × Time ) / 100
Principal = ( Interest × 100 ) / ( Rate × Time )
Rate = ( Interest × 100 ) / ( Principal × Time )
Time = ( Interest × 100 ) / ( Principal × Rate )
Similar questions