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Interest

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Question 49

In questions 24 to 59, fill in the blanks to make the statements true.
Interest on Rs. 12500 at 18 % per annum for a period of 2 yr and 4 months is ___ .

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Solution

Given, P = Rs. 12500 and R = 18 %
T = 2 yr 4 months $= (2 + \frac{4}{12}) y r = (2 + \frac{1}{3}) y r = \frac{7}{3} y r$
We know that, $I = \frac{P \times R \times T}{100} = \frac{12500 \times 18 \times 7}{3 \times 100} = R s . 5250$

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