Find the amount to be received after 2 years 6 months at the rate of 5% p.a. of simple interest on a sum of Rs. 3200.

Solution (By Examveda Team)

$$\eqalign{ & {\text{Rate of interest}} = {\text{5}}\% {\text{ p}}{\text{.a}}{\text{.}} \cr & {\text{sum}} = {\text{Rs}}{\text{. 3200}} \cr & {\text{Time}} = {\text{2 years 6 months}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = 2\frac{1}{2}{\text{years}} \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{5}{2}{\text{years}} \cr & {\text{S}}{\text{.I}}{\text{.}} = \frac{{{\text{Prinicipal}} \times {\text{Time}} \times {\text{Rate}}}}{{100}} \cr & \,\,\,\,\,\,\,\,\,\, = \frac{{3200 \times 5 \times 5}}{{2 \times 100}} \cr & \,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{. }}400 \cr & \therefore {\text{Amount}} = {\text{Rs}}{\text{. sum}} + {\text{S}}{\text{.I}}. \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = \left( {3200 + 400} \right) \cr & \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = {\text{Rs}}{\text{. 3600}}{\text{}} \cr} $$