Find the interest and the amount on:
(i) Rs. 750 in 3 years 4 months at 10% per annum
(ii) Rs. 5000 at 8% per year from 23rd December 2011 to 29th july 2012.
(iii) Rs. 2600 in 2 years 3 months at 1% per month.
(iv) Rs. 2600 in 2 years 3 months at 1% per month.
Given P= Rs. 750
Time(T)=3 412=313
=103 years
Rate(R) =10% ∴ Interest(I)= PTR100=750×10×103100
=250×10×10100=Rs.250 ∴ Amount(A)= P+1= Rs. 750 + Rs. 250= Rs. 1000
Principle(P)=Rs.5000
Rate(R)=8%p.a.
Time(T)=23 December 2011 to 29 July 2012
Dec. Jan. Feb. Mar. Apr. May. Jun. Jul
8 31 29 31 30 31 30 29
Total 219 days =219365 years
∴ interest= PTR100=5000×8×219100×365
=10×8×3
∴ Amount=P+1=Rs. 5000 +240 = Rs. 5240
(iii) Here P= 2600
Time(T)=2 years 3 months= 27 months
Rate(R)=1% per month ∴ Interest= P×T×R100=2600×27×1100
=26×27=Rs.702
∴ Amount=Rs. (2600+702)=Rs. 3302
(iv) Here P= Rs. 4000, Time(T) = 113 year
=1year+123months=16months
Rate(R)=2 paise per rupee per month=2% per month
∴ Interest(I)= PTR100=4000×2×16100
=40×32=Rs.1280
∴ Amount(A) =P+1= Rs. 4000+Rs. 1280=Rs. 5280