Question

Find the S.I. and amount on: Rs. 3,380 for 30 months at `4 1/2`% p.a.

Answer 1

Principal (P) = Rs. 3380

Rate = `4 1/2%` p.a. = `9/2%`

Period = 30 months = `30/12` years

S.I. = `"PRT"/100 = (3380 xx 9 xx 30)/(100 xx 2 xx 12)`

= Rs. `1521/4` = Rs. 380.25

Amount = P + S.I.

= Rs. 3380 + 380.25 = Rs. 3760.25