Find the interest and the amount on:

₹ 2,600 in 2 years 3 months at 1% per month.

Given:

P = ₹ 2,600

R = 1% per month = 12% per annum

T = 2 years 3 months

= $\Big(2 + \dfrac{3}{12}\Big)$ years

= $\Big(2 + \dfrac{1}{4}\Big)$ years

= $\Big(\dfrac{8 + 1}{4}\Big)$ years

= $\Big(\dfrac{9}{4}\Big)$ years

$\because \text{S.I.} = ₹ \Big(\dfrac{P \times R \times T}{100}\Big)\\[1em] \Rightarrow \text{S.I.} = ₹ \Big(\dfrac{2,600 \times 12 \times 9}{4 \times 100}\Big)\\[1em] \Rightarrow \text{S.I.} = ₹ \dfrac{2,08,800}{400}\\[1em] \Rightarrow \text{S.I.} = ₹ 702 \\[2em] \because \text{A = P + S.I.}\\[1em] \Rightarrow \text{A = ₹ 2,600 + ₹ 702}\\[1em] \Rightarrow \text{A = ₹ 3,302}\\[1em]$

Hence, S.I. = ₹ 702 and Amount = ₹ 3,302.