00:01
Now, in this problem it says that a person estimates that he will need 10 ,500 rands 10 months from now to replace his computer.
00:12
So he invested 8000 rands for this purpose 3 months ago.
00:19
So the time period that he invested the money is 10 plus 3 that is 13 months right.
00:27
The rate of interest is given to be 11 .5 simple interest.
00:33
This is annual rate of interest.
00:35
We need to find that the amount that the person will still be short of.
00:41
Actually he need this much of amount.
00:44
So he invested 8000 rand for 13 months.
00:48
Let's calculate the interest that he got after investing this much amount of money.
00:54
Si this would be equals to p times r times t.
01:00
So principal amount is 8000 rand rate of interest is 11 .5 % means 0 .115 multiplied with time period.
01:12
Now this is given in months.
01:14
We have to convert it into years because the rate of interest is annual rate of interest...