Question

Principal $=\text{Rs.}5000$, amount $=\text{Rs.}6450$ and rate$=12\%$ per annum. Find time and simple interest.

Answer 1

Given :

$P=\text{Rs}5000,A=\text{Rs}6450$ and $R=12\%$ per annum

Since, $SI=A-P=\text{Rs}6450-\text{Rs}5000=\text{Rs}1450$

$\Rightarrow SI=\text{Rs}1450$

$\therefore$ Simple interest $(S.I)=\text{Rs}1450$ ---(1)

Now, Simple interest,

$S.I=\frac{P\times T\times R}{100}$

$\Rightarrow 1450=\frac{5000\times T\times 12}{100}$

$\Rightarrow 1450=600\times T$

$\Rightarrow T=\frac{1450}{600}$

$\Rightarrow T=\frac{29}{12}$

$\Rightarrow T=2\frac{5}{12}$

$\therefore$ Time $\left(T\right)=2\frac{5}{12}$ years ---(2)