Finding Interest and Amount

Recap on simple interest Amount = Principal + Interest Where n is in years

interest and the amount received by him at the end of 3 years. Example 1:- Ravi invested 8,000 for 3 years at 14% per annum. Find the simple interest and the amount received by him at the end of 3 years. Solution: Given:- p= 8000 , n=3 , r=14 To Find:- Simple Interest(SI), Amount(A) I = Rs.3360 A = P + I = 8000 + 3360 = 11360 Ans: The amount received by ravi is 11,360

Example 2: - Priya deposited Rs Example 2: - Priya deposited Rs.7,000 in bank at the Rate of 8% yearly for 6 years. Find Simple interest and Amount she received. Solution: Given: Principal(P)=7000 , Rate(r)=8% per year , Period(n)=6 years. To find : Simple Interest(I) and amount We know that S.I = 70 x 6 x 8 S.I = 3360 We know that Amount = Principal + Interest Amount = 7000 + 3360 = 10360 Ans:- Simple interest = Rs 3360 and Amount = Rs 10360

Try these Priya deposited Rs.7,000 in bank at the Rate of 8% yearly for 6 years. Find Interest and Amount she received.