Vineet borrows a sum of 3 50,000 at the rate of 10% p.a. for 6 years. Find the simple
interest that Vineet has to pay. Also c

2 thoughts on “Vineet borrows a sum of 3 50,000 at the rate of 10% p.a. for 6 years. Find the simple<br />interest that Vineet has to pay. Also c”

1. Answer :–

   • Vineet has to pay Rs 210000 as simple interest.

   • The amount to be paid after 6 years is Rs 560000.

   Given :–

   • Vineet borrows a sum of Rs 3,50,000 at the rate of 10% p.a. for 6 years.

   To find :–

   • The simple interest that Vineet has to pay.

   • The amount to be paid after 6 years.

   Step-by-step explanation :–

   • In this question, it has been given that Vineet borrows a sum of Rs 3,50,000 at the rate of 10% p.a. for 6 years. We have to find the simple interest that Vineet has to pay and also calculate the amount to be paid after 6 years.

   • The money borrowed by Vineet can be taken as the principal. We can take 10% as the rate and 6 years as the time. Now let’s find the simple interest on Rs 3,50,000 at the rate of 10% p.a. for 6 years. It will be the simple interest that Vineet has to pay. We are going to do this using a formula.

   Calculations :–

   We know that :–

   [tex] \underline{\boxed{\sf SI = \dfrac{Principal \times Rate \times Time}{100}}}[/tex]

   Here,

   • Principal = Rs 3,50,000.
   • Rate = 10% per annum.
   • Time = 6 years.

   [tex] \underline{\mathfrak{Substituting \: these \: values \: in \: this \: formula,}}[/tex]

   [tex] \boxed{\tt Simple \: Interest = \dfrac{3500 \!\!\!\not0 \!\!\!\not0 \times 10 \times 6}{1 \!\!\!\not0\!\!\! \not0}}[/tex]

   Cutting off the zeroes,

   [tex] \boxed{ \tt Simple \: Interest = \dfrac{3500 \times 10 \times 6}{1}} [/tex]

   Now let’s multiply the remaining numbers, since we can’t reduce them anymore.

   [tex] \boxed{\tt Simple \: Interest = 3500 \times 10 \times 6}[/tex]

   On multiplying the numbers,

   [tex] \overline{\boxed{\tt Simple \: Interest = Rs \: 210000.}}[/tex]

   • So, Vineet has to pay Rs 2,10,000 as simple interest.

   ––––––––––––––––––––––––

   • Now, let’s find the total amount to be paid after 6 years.

   We know that :-

   [tex] \underline{\boxed{ \sf Amount = Principal + Interest.}}[/tex]

   Here,

   • Principal = Rs 3,50,000.
   • Interest = Rs 2,10,000.

   Hence,

   [tex] \boxed{ \tt Amount = 350000 + 210000}[/tex]

   On adding the numbers,

   [tex] \overline{\boxed{ \tt Amount = Rs \: 560000.}}[/tex]

   • So, the amount to be paid after 6 years is Rs 560000.

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2. Answer:

   210000

   Step-by-step explanation:

   simple intrest = PRT/100

   so

   350000*10*6/100

   100 cancels 10 and 1 zero in 350000

   so we get 35000*6

   = 210000

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