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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- A man purchases a washing machine for $₹12,000$. He pays $₹2,000$ at first and the rest after $1\text{ year}$, on which he is charged a simple interest at the rate of $10\%$ per year. The total amount he pays for the washing machine is:
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Important Questions from Simple Interest
Anil lent a sum of Rs. 5,000 on simple interest for 10 years in such a way that the rate of interest is 6% per annum for the first 2 years, 8% per anmum for the next 2 years and 10% per annum beyond 4 years. How much interest (in Rs.) will he earn at the end of 10 years?
What will be the simple interest on a sum of Rs. 12000 at the rate of 15 percent per annum for three years ?
If in 13 years fixed sum doubles at simple interest, what will be the interest rate per year? (correct to two decimal places)
On simple interest a sum of Rs. 640 becomes Rs. 832 in 2 years. What will Rs. 860 become in 4 years at the same rate of simple interest?
A certain sum amounts to Rs. 81840 in 3 years and to Rs. 92400 in 5 years at x% p.a. under simple interest. If the rate of interest is becomes (x + 2)%, then in how many years will the same sum double itself?
