Answer
425.1k+ views
Hint: Simple interest is a quick and easy method of calculating the interest charge on a loan.
Simple interest is formulated as =\[\dfrac{{p \times r \times t}}{{100}}\],
Where p = principle amount
R = rate 0f interest
T = time period
And amount to be returned \[ = {\text{ }}S.I{\text{ }} + {\text{ }}P\]
i.e. \[A{\text{ }} = {\text{ }}S.I{\text{ }} + {\text{ }}P\;\;\;\;\]
Complete step by step answer:
Given amount \[ = {\text{ }}700,{\text{ }}R{\text{ }} = {\text{ }}8\% \]per annum time \[ = {\text{ }}5\] years
Let principle amount be \[ = {\text{ }}Rs{\text{ }}100\]
Let us denote the principle amount by ‘p’, amount by ‘A” and rate by “R” while time by ‘T’.
Formula for simple interest is
S.I =\[\dfrac{{p \times r \times t}}{{100}}\]
S.I = \[\dfrac{{100 \times 8 \times 5}}{{100}}\]
S.I =\[8 \times 5\]
S.I \[ = {\text{ }}40\]
Amount (a) = principle + simple interest
A = P+S.I
A \[ = \]Rs \[100 + {\text{ }}40\] [from 1]
If amount is Rs 140, then principle \[ = {\text{ }}100\]
By unitary method,
If amount is Rs 140, then principle \[ = \] Rs \[ = 1000\]
If amount is Rs 1, then principle = Rs =\[\dfrac{{100}}{{140}}\]
If amount is Rs 700, then principle = Rs\[\dfrac{{100}}{{140}} \times 700\]
\[ = {\text{ }}Rs{\text{ }}500\;\;\;\;\;\]
Note: Simple interest is determined by multiplying the daily interest rate by the principal by the number of days. It is applied on principal amount only.
We can also do this question by letting the principle be ‘x’.
Simple interest is formulated as =\[\dfrac{{p \times r \times t}}{{100}}\],
Where p = principle amount
R = rate 0f interest
T = time period
And amount to be returned \[ = {\text{ }}S.I{\text{ }} + {\text{ }}P\]
i.e. \[A{\text{ }} = {\text{ }}S.I{\text{ }} + {\text{ }}P\;\;\;\;\]
Complete step by step answer:
Given amount \[ = {\text{ }}700,{\text{ }}R{\text{ }} = {\text{ }}8\% \]per annum time \[ = {\text{ }}5\] years
Let principle amount be \[ = {\text{ }}Rs{\text{ }}100\]
Let us denote the principle amount by ‘p’, amount by ‘A” and rate by “R” while time by ‘T’.
Formula for simple interest is
S.I =\[\dfrac{{p \times r \times t}}{{100}}\]
S.I = \[\dfrac{{100 \times 8 \times 5}}{{100}}\]
S.I =\[8 \times 5\]
S.I \[ = {\text{ }}40\]
Amount (a) = principle + simple interest
A = P+S.I
A \[ = \]Rs \[100 + {\text{ }}40\] [from 1]
If amount is Rs 140, then principle \[ = {\text{ }}100\]
By unitary method,
If amount is Rs 140, then principle \[ = \] Rs \[ = 1000\]
If amount is Rs 1, then principle = Rs =\[\dfrac{{100}}{{140}}\]
If amount is Rs 700, then principle = Rs\[\dfrac{{100}}{{140}} \times 700\]
\[ = {\text{ }}Rs{\text{ }}500\;\;\;\;\;\]
Note: Simple interest is determined by multiplying the daily interest rate by the principal by the number of days. It is applied on principal amount only.
We can also do this question by letting the principle be ‘x’.
Recently Updated Pages
How many sigma and pi bonds are present in HCequiv class 11 chemistry CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Why Are Noble Gases NonReactive class 11 chemistry CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Let X and Y be the sets of all positive divisors of class 11 maths CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Let x and y be 2 real numbers which satisfy the equations class 11 maths CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Let x 4log 2sqrt 9k 1 + 7 and y dfrac132log 2sqrt5 class 11 maths CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Let x22ax+b20 and x22bx+a20 be two equations Then the class 11 maths CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Trending doubts
Fill the blanks with the suitable prepositions 1 The class 9 english CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
At which age domestication of animals started A Neolithic class 11 social science CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Which are the Top 10 Largest Countries of the World?
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Give 10 examples for herbs , shrubs , climbers , creepers
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Difference between Prokaryotic cell and Eukaryotic class 11 biology CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Difference Between Plant Cell and Animal Cell
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Write a letter to the principal requesting him to grant class 10 english CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Change the following sentences into negative and interrogative class 10 english CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)
Fill in the blanks A 1 lakh ten thousand B 1 million class 9 maths CBSE
![arrow-right](/cdn/images/seo-templates/arrow-right.png)