Question

a sum of ₹1500 is lent for 2 years at the rate of 5% per annum. find the interest and the amount at the end of second year

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Answer 1

Answer:

₹150 is the Simple Interest on the sum ₹1500 for 2 years at 5% rate p.a.

Step-by-step explanation:

Given:

Principal (P) = ₹1500

Time (T) = 2 years

Rate % = 5% per annum

Asked:

Simple Interest = ?

Solution:

We know that,

Simple Interest = $\frac{PRT}{100}$

⇒ 1500 × $\frac{5}{100}$ × 2

⇒ 15 × 5 × 2

⇒ 75 × 2

⇒ ₹150

Simple Interest = ₹150

Therefore, ₹150 is the Simple Interest on the sum ₹1500 for 2 years at 5% rate p.a.