Question

4. Mrs. Ranjana lent Rs. 15000 to her own person for 6 month at 5% p.a simple interest .What is the future value of this loan?

Answer 1

Principal amount (P) = Rs 12500  

Time period (T) = 3 years  

Rate of interest (R) = 15% p.a.  

Interest =  

100

P×R×T

​

 

=  

100

12500×15×3

​

 

= Rs 5625  

Rest of the amount lent = Rs  15000−Rs  12500=Rs  2500  

Rate of interest = 18% p.a.  

Time period = 3 years  

Interest =  

100

P×R×T

​

 

=  

100

2500×18×3

​

 

= Rs 1350  

Total interest earned = Rs  5625+Rs  1350=Rs  6975

Answer 2

Answer:

Amount to be paid=principal amount+Simple interest<br> Simple interest=

$p \times r \times t \frac{}{100}$

where P is the principal amount ,T is time and R is the rate of the interest.<br> Simple interest=10000× 15×2 /100 = 3000

<br> Amount to be paid=

10000+3000= 13000

<br>