Question

Q.21 Tom borrowed a sum of Rs. 1200 at 12% per annum for 3years. Find the interest and amount to be paid by Tom after stipulated time. ​

Answer 1

The interest and amount to be paid by Tom after stipulated time is 432; 1632.

Principal=Rs1200

Rate=12%

Time=3year

Interest:

Interest=  Principal ×Rate ×Time/100

Interest=  1200×12×3/100

Interest​=Rs432

Amount:

Amount=1200+432

Amount=1632

Inconclusion the interest and amount to be paid by Tom after stipulated time is 432; 1632.

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Answer 2

Step-by-step explanation:

• Principal=P=1200
• Rate of interest=R=12%
• Time=t=3years
• Interest=I
• Annual=A

We know that

I = PRT/100

=> 1200 × 12 × 3/100

=> 12 × 12 × 3

=> 432

Now,

A = P + I

=> 1200 + 432

=> Rs. 1732