Question

Please help me to find out this question .This question is from chapter simple Interest

PRINCIPLE=₹2630
RATE=8%
TIME=2 1/Fund the S.I and amount ​

Answer 1

The simple interest is of 526.

The total amount is 3156.

Explanation:

Simple Interest

This is a simple interest problem.

The simple interest formula is given by:

`E = P*I*t`

In which E is the amount of interest earned, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.

After t years, the total amount of money is:

`T = E + P`

In this question, we have that:

`P = 2630, I = 0.08, t = 2.5`

The simple interest is:

`E = P*I*t = 2630*0.08*2.5 = 526`

The simple interest is of 526.

The total amount is:

`T = E + P = 2630 + 526 = 3156`

The total amount is 3156.