Find the simple interest and the amount when principal = ₹ 2650, rat

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

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

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