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ICSE Class 8 Answered

Find the interest and amount on 4000 in 1 1/3 years at 2 paise per rupee per Month
Asked by noelsjv | 22 Sep, 2018, 07:41: PM
answered-by-expert Expert Answer
 
Principal = Rs. 4000
Time = 4/3
Rate = 2 paise per rupee per month = 2% per month   (since one rupee = 100 paise)
annually Rate = 2 × 12 = 24%
Simple Interest = (P × R × T) ÷ 100 = (4000 × 24 × 4/3) ÷ 100 = Rs. 1280
 
Amount = P + I = 4000 + 1280 = Rs. 5280
Answered by Yasmeen Khan | 26 Sep, 2018, 12:17: PM

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