Mr.Sunil Singh borrowed Rs.1500 at the rate of 12% per annum S.I.What will be the amount after 2 years 73 days.

Question

Mr.Sunil Singh borrowed Rs.1500 at the rate of 12% per annum S.I.What will be the amount after 2 years 73 days.

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Eliza 11 months 2021-06-30T16:08:25+00:00 1 Answers 0 views 0

Answers ( )

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    2021-06-30T16:10:21+00:00

    Given:

    •Principal is 1500 rupees at the rate of 12% per annum.

    To Find:

    •What will be the amount after 2 years 73 days.

    Solution:

    we have,

    • Principal = 1500 rupees
    • Rate = 12%
    • Time = \sf2\dfrac{73}{365}days = \sf2\dfrac{1}{5}days = \dfrac{11}{5}days

    Using Formula:

     \:  \:  \sf \: simple \: interest =  \frac{p \times r \times t}{100}

    Now substitute the values,

     \:  \:  \sf \: simple \: interest =  \frac{1500 \times 11 \times 12}{100 \times 5}  = 396rupees

    Hence,Simple Interest is 396 rupees.

    Now,

    • S.I = 396 rupees
    • Principal = 1500 rupees

    Using Formula:

     \:  \:  \sf \: amount = principal + simple \: interest

    Now substitute the values,

     \:  \:  \sf \: amount = 1500 + 396 \\  \\  \:  \:  \sf \: amount = 1896rupees

    Hence,Amount is 1896 rupees.

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