 Show
Question Arun borrowed Rs 24,000 from Rahul at the rate of 15% per annum simple interest for 4 years. Find the simple interest and the total amount that has to be paid at the end of 4 years.Hint: Use the formula for simple interest and then find the total amount.The correct answer is: 38400 RupeesComplete step by step solution:We calculate simple interest by the formula,…(i)where P is Principal amount, T is number of years and R is rate of interestMoney borrowed by Arun from Rahul = P = 24000 RsHere, we have T = 4,R = 15% and P = 24000On substituting the known values in (i), we get We have SI = 14400 Rupees.We know the formula for total amount = A = P + SI…(ii)where A is the total amount, P is the principal amount and SI is simple interest.On substituting the known values in (ii), we get A = 24000 + 14400 = 38400Hence total amount to be paid after 4 years = A = 38400 Rupees.Related Questions to studyWith Turito Academy.With Turito Foundation.Get an Expert Advice From Turito.Turito AcademyWith Turito Academy.Test PrepWith Turito Foundation.Solution Principal (P)=Rs. 24000 Time (t)=2 years Rate (r)=10% Amount= Principal - (1+r100)n =Rs. 24000×(1+10100)2 =Rs. 24000×(101100)2 =Rs. 24000×101100×101100 =Rs. 24482.4C.I.= Amount-Principal=Rs. 24482.4−Rs. 24000=Rs.482.4Interest Finding CI When Rate Compounded Anually or Semi - Anually Standard VIII Mathematics What is the compound interest on 20000 at 15% per annum for 2 1 3 years?= 7,772. 50.
What will be the compound interest in on 24000 at 6% per annum for two and half years if the interest is compounded after every ten?This is Expert Verified Answer
A = 26460 Rs. Compound Interest = 2460 Rs. Answer.
What is the compound interest for 2 years at 10% interest rate of Rs 30000?Detailed Solution. ∴ The compound interest is Rs. 7,752.
How much will Rs 25000 amount to in 2 years at compound interest if the rates for the successive years are 4% and 5% per year?25000, t = 2 years, r = 4%, 5% successively. Hence, Amount = Rs. 27300.
|
