Question

Find simple interest on $₹20000$for $4\frac{1}{2}years$ at $8\frac{1}{2}\%perannum.$

Also find the amount.

Answer 1

Principal (P) = $₹20000$

Time (T) = $4\frac{1}{2}years=\frac{9}{2}years$

Rate of interest (R) = $8\frac{1}{2}\%=\frac{17}{2}\%$

Simple interest (I) = $\frac{P\times R\times T}{100}$

= $₹\frac{20000\times {\displaystyle \frac{17}{2}}\times {\displaystyle \frac{9}{2}}}{100}$= $₹\frac{20000\times 17\times 9}{2\times 2\times 100}=₹\frac{2\times 100\times 17\times 9}{2\times 2}=₹50\times 17\times 9$

= $₹7650$

Hence, Amount = $P+I$

= $₹20000+₹7650$

= $₹27650$