# Example 10 - Chapter 8 Class 8 Comparing Quantities

Last updated at Nov. 12, 2018 by Teachoo

Last updated at Nov. 12, 2018 by Teachoo

Transcript

Example 10 A sum of Rs 10,000 is borrowed at a rate of interest 15% per annum for 2 years. Find the simple interest on this sum and the amount to be paid at the end of 2 years. Given, Principal (P) = Rs 10,000 Rate (R) = 15% Per Annum Term (T) = 2 Years Now, Interest (I) = (๐ ร ๐ ร ๐)/100 = (10000 ร15 ร2)/100 = 100 ร 15 ร 2 = 100 ร 30 = 3000 Now, Amount = Principal + Interest = 10000 + 3000 = 13000 โด Simple interest charged = Rs 3000 & Amount to be paid = Rs 13,000

About the Author

Davneet Singh

Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 10 years. He provides courses for Maths and Science at Teachoo.