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Q. A sum of Rs. 10,000 is borrowed at a rate of interest 15% per annum for 2 years. Find the simple interest on this sum and the amount to be paid at the end of two years.

Q. A sum of Rs. 1010,000000 is borrowed at a rate of interest 15% 15 \% per annum for 22 years. Find the simple interest on this sum and the amount to be paid at the end of two years.

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Full solution

Q. Q. A sum of Rs. 1010,000000 is borrowed at a rate of interest 15% 15 \% per annum for 22 years. Find the simple interest on this sum and the amount to be paid at the end of two years.
  1. Use Formula: To calculate the simple interest, we use the formula:\newlineSimple Interest (SI) = (Principal×Rate×Time)/100(Principal \times Rate \times Time) / 100\newlineHere, Principal (P) = Rs. 10,00010,000, Rate (R) = 15%15\% per annum, and Time (T) = 22 years.
  2. Substitute Values: Substitute the given values into the formula to calculate the simple interest: SI=(10,000×15×2)/100SI = (10,000 \times 15 \times 2) / 100
  3. Perform Calculation: Perform the multiplication and division to find the simple interest:\newlineSI = (10,000×30)/100(10,000 \times 30) / 100\newlineSI = 300,000/100300,000 / 100\newlineSI = Rs. 3,0003,000
  4. Find Total Amount: Now, to find the total amount to be paid at the end of two years, we add the simple interest to the principal amount:\newlineTotal Amount = Principal + Simple Interest\newlineTotal Amount = Rs. 10,00010,000 + Rs. 3,0003,000
  5. Calculate Total: Calculate the total amount to be paid:\newlineTotal Amount = Rs. 10,00010,000 + Rs. 3,0003,000\newlineTotal Amount = Rs. 13,00013,000

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