Join Sarthaks eConnect Today - Largest Online Education Community!
0 votes
4 views
in Simple Interest by (37.1k points)
closed by

Find the simple interest and the amount when principal = ₹ 2650, rate = 8% p.a. and time = 2 ½ years.

1 Answer

+1 vote
by (20.3k points)
selected by
 
Best answer

Given: – P = ₹ 2650, R = 8% p.a. and time = 2 ½ years = (5/2)

If interest is calculated uniformly on the original principal throughout the loan period, it is called simple interest.

SI = (P × R × T)/100

= (2650 × 8 × (5/2))/ 100

= 2650 × 8 × (5/2) × (1/100)

= (2650 × 8 × 5 × 1)/ (2 × 100)

= (2650 × 4 × 1 × 1)/ (1 × 20)

= (2650 × 1 × 1 × 1)/ (1 × 5)

= (2650 / 5)

= ₹ 530

Amount = (principal + SI)

= (2650 + 530)

= ₹ 3180

Related questions

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...