Question

Find the simple interest and the amount when principal = ₹ 9600, rate = 7 ½ % p.a. and time = 5 months.

Answer 1

Given: – P = ₹ 9600, R = 7 ½ % p.a. = (15/2) and time = 5 months = (5/12) years

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

SI = (P × R × T)/100

= (9600 × (15/2) × (5/12))/ 100

= 9600 × (15/2) × (5/12) × (1/100)

= (9600 × 15 × 5 × 1)/ (2 × 12 × 100)

= (96 × 15 × 5 × 1)/ (2 × 12)

= (7200)/ (24)

= ₹ 300

Amount = (principal + SI)

= (9600 + 300)

= ₹ 9900