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Examples 1 to 3

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(1) Find S. I. on Rs. 27000 at 7 $\frac{1}{3}$ % per annum for 3 years 8 months.

Soln. Here, P = 27000, R = $\frac{22}{3}$ and N = 3 + $\frac{8}{12}$ = $\frac{11}{3}$ years.

I = $\frac{\textup{PRN}}{100}$ = $\frac{27000\times22\times11}{100\times3\times3}$ = Rs. 7260

(2) Find the amount of Rs. 3500 invested at 9 % during the period from 7^th Feb. 2001 to 21^st April 2001.

Soln. Here, P = 3500 & R = 9 %.

Feb March April

= 73 days = $\frac{1}{5}$ years.

Time ( N ) = 21 + 31 + 21

Now, A = P $\left (1+\frac{RN}{100} \right )$

= 3500 $\times \left (1+\frac{9\times1}{100\times5} \right )$ = Rs. 3563

I = $\frac{\textup{PRN}}{100}$ = $\frac{3500\times9\times1}{100\times5}$ = Rs. 63

$\therefore$ A = P + I = 3500 + 63 = Rs. 3563

(3) S.I. on Rs. 5800 at 12 % p.a. for a certain time is Rs. 2088. Find the time.

Soln. I = $\frac{\textup{PRN}}{100}$

$\therefore$ 2088 = $\frac{5800\times12\times\textup{N}}{100}$

$\therefore$ $\frac{2088\times100}{12\times5800}$ = N $\therefore$ N = 3 years.