Simple Interest Amount Calculation
This problem requires calculating the total amount payable after a certain period, based on a principal sum invested with simple interest.
Given Information
- Principal (P) = ₹3680
- Rate of Interest (R) = 12.5% per annum
- Time Period (T) = 6 years
Calculating Simple Interest (SI)
The formula for Simple Interest is:
$ SI = \frac{P \times R \times T}{100} $Substitute the given values into the formula:
$ SI = \frac{3680 \times 12.5 \times 6}{100} $To simplify the calculation:
$ SI = \frac{3680 \times 12.5 \times 6}{100} = \frac{3680 \times 75}{100} $Alternatively, calculate 12.5% of 3680:
$ SI = 3680 \times \frac{12.5}{100} \times 6 $ $ SI = 3680 \times 0.125 \times 6 $ $ SI = 460 \times 6 $ $ SI = ₹2760 $Calculating Total Amount (A)
The total amount payable (A) is the sum of the Principal (P) and the Simple Interest (SI).
$ A = P + SI $Substitute the values:
$ A = ₹3680 + ₹2760 $ $ A = ₹6440 $Therefore, the total amount payable on maturity will be ₹6440.
Similar Questions
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Important Questions from Simple Interest
If ₹12,800 is invested in a bank for 5 years at the rate of 9% per annum simple interest. what amount is returned by the bank?
Somu has borrowed ₹10,000 from a money lender with simple interest at a rate of 7% half yearly. How much amount will he pay to the money lender after 3 years?
Find the Simple interest on Rs. 2,400 from 20 March 2019 to 31 may 2019 at \(6{1 \over 4}\) % rate?
If the simple interest for five years is equal is 35% of the principal, that rate of interest is:
A sum fetched a simple interest of Rs. 3,040 at the rate of 8% p.a in 5 years. what is the sum?
