Question

calculate the amount of an annuity rs.5000 for 15 years @ 12% rate​

Answer 1

Solution:-

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࿊ Here, the question has given us the principal, rate and time that is Rs. 5000, 12% and 15 years respectively. Now, the question has asked us to calculate the amount. So, we can easily find the answer by using the amount's formula. First we will find the SI and then we will add it to principal.

ANSWER:-

✧ The amount is ₹ 14,000.

GIVEN:-

➲ Principal = Rs. 5000

➲ Rate of interest = 12%

➲ Time = 15 years

TO FIND:-

⇒ Amount = ?

FORMULA:-

➬ Amount = P + S.I

SOLVING BY APPLYING THE FORMULA:-

• FINDING THE SIMPLE INTEREST:-

☞ S.I = P×R×T / 100

☞ S.I = 5000 × 12 × 15 / 100

☞ S.I = 5000 × 180 / 100

☞ Cancelling the zeros

☞ S.I = 500 × 18

☞ S.I = 500 × 18 = 9,000

☞ S.I = Rs. 9,000

Thus, we got the S.I that is ₹ 9,000.

• FINDING THE AMOUNT:-

☞ Amount = P + S.I

☞ Amount = 5000 + 9,000

☞ Amount = 5000 + 9,000 = 14,000

☞ Amount = Rs. 14,000

Hence, we got the amount that is ₹ 14,000.

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