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Find the interest and the amount on: ₹ 2,600 in 2 years 3 months at 1% per month. - Mathematics

Sum

Find the interest and the amount on:
₹ 2,600 in 2 years 3 months at 1% per month.

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Solution

Here P = ₹2,600

Time (T) = 2 Years 3 months = 27 months

Rate (R) = 1% per month

∴ Interest =`("P"xx"T"xx"R")/100=(2600xx27xx1)/100`

= 26 × 27 = Rs.702

∴ Amount = Rs. (2600 + 702) = Rs.3302

Concept: To Find the Principle (P); the Rate Percent (R) and the Time
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APPEARS IN

Selina Concise Mathematics Class 8 ICSE
Chapter 9 Interest
Exercise 9 (A) | Q 1.3 | Page 106
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