Archana wants to buy a TV that costs Rs. 19,000 but she has only Rs. 15,000. So she decides to invest her money at 8% simple interest per year. After how many years, will she be able to buy the TV?
Last updated date: 20th Mar 2023
•
Total views: 307.2k
•
Views today: 4.86k
Answer
307.2k+ views
Hint: Let us go through by the formula of simple interest that we study in the chapter of simple interest i.e., $SI = \dfrac{{P \times R \times T}}{{100}}$ . By this formula we will be able to calculate time because we will find the interest by subtracting money she has from the cost price of TV.
Here in the question it is given that Archana has only Rs. 15,000.
And she wants to buy a TV that costs Rs. 19,000.
So the extra amount she needs as a simple interest is (cost price of TV- the money she has).
I.e. SI=19000-15000=Rs. 4000.
So, she needs Rs. 4000 extra as simple interest.
We have to find time T when SI=4000
And she has a principal amount, P=Rs. 15000
And the rate for simple interest is given as 8% in the question.
Now, $SI = \dfrac{{P \times R \times T}}{{100}}$
$
\Rightarrow 4000 = \dfrac{{15000 \times 8 \times T}}{{100}} \\
\Rightarrow 4000 = 150 \times 8 \times T \\
\Rightarrow T = 3.33 \\
$
Hence, the required time when she will be able to buy the TV is 3.33 years.
Note: Whenever we face such a question, the key concept for solving the question is to first find out the extra amount she needs as an interest, then apply the formula of simple interest to calculate the time after which she collects that amount of interest at the given rate.
Here in the question it is given that Archana has only Rs. 15,000.
And she wants to buy a TV that costs Rs. 19,000.
So the extra amount she needs as a simple interest is (cost price of TV- the money she has).
I.e. SI=19000-15000=Rs. 4000.
So, she needs Rs. 4000 extra as simple interest.
We have to find time T when SI=4000
And she has a principal amount, P=Rs. 15000
And the rate for simple interest is given as 8% in the question.
Now, $SI = \dfrac{{P \times R \times T}}{{100}}$
$
\Rightarrow 4000 = \dfrac{{15000 \times 8 \times T}}{{100}} \\
\Rightarrow 4000 = 150 \times 8 \times T \\
\Rightarrow T = 3.33 \\
$
Hence, the required time when she will be able to buy the TV is 3.33 years.
Note: Whenever we face such a question, the key concept for solving the question is to first find out the extra amount she needs as an interest, then apply the formula of simple interest to calculate the time after which she collects that amount of interest at the given rate.
Recently Updated Pages
Paulings electronegativity values for elements are class 11 chemistry CBSE

For a particle executing simple harmonic motion the class 11 physics CBSE

Does Nichrome have high resistance class 12 physics CBSE

The function f satisfies the functional equation 3fleft class 12 maths JEE_Main

Write a letter to the Principal of your school to plead class 10 english CBSE

Look at the handout below Write a letter to the organizers class 11 english CBSE

Trending doubts
What was the capital of Kanishka A Mathura B Purushapura class 7 social studies CBSE

Difference Between Plant Cell and Animal Cell

Write an application to the principal requesting five class 10 english CBSE

Ray optics is valid when characteristic dimensions class 12 physics CBSE

Give 10 examples for herbs , shrubs , climbers , creepers

Tropic of Cancer passes through how many states? Name them.

Write the 6 fundamental rights of India and explain in detail

Write a letter to the principal requesting him to grant class 10 english CBSE

Name the Largest and the Smallest Cell in the Human Body ?
