Question

Find the accumulated value of the deposit $2500 made in simple interest for 3.5 years at 5% rate of interest per year.
!! NO SPAMMING !!

Answer 1

${\huge{\underline{\bf{Solution:}}}}$

$\begin{gathered} \\ \end{gathered}$

Given:

• Principal = $2500
• Time in years = 3.5
• Rate of interest = 5%

$\begin{gathered} \\ \end{gathered}$

To find:

$\begin{gathered} \\ \end{gathered}$

• Accumulated Value

$\begin{gathered} \\ \end{gathered}$

Solution:

$\begin{gathered} \\ \end{gathered}$

To find the simple interest, we use the formula:

$\multimap \: \boxed{ \sf Simple\:Interest = \dfrac{PRT}{100}}$

Where,

• P = Principle
• R = Rate of Interest
• T = Time (years)

$\begin{gathered} \\ \end{gathered}$

$\begin{gathered} \colon \longrightarrow \sf \: Simple\:Interest = \dfrac{PRT}{100} \\ \\ \end{gathered}$

$\begin{gathered} \colon \longrightarrow \sf \: Simple\:Interest = \dfrac{2500 \times 5 \times 3.5}{100} \\ \\ \end{gathered}$

$\begin{gathered} \colon \longrightarrow \sf \: Simple\:Interest = \dfrac{25 \cancel{00} \times 5 \times 3.5}{1 \cancel{00}} \\ \\ \end{gathered}$

$\begin{gathered} \colon \longrightarrow \sf \: Simple\:Interest = 25 \times 5 \times 3.5 \\ \\ \end{gathered}$

$\colon \implies\underline{ \boxed{ \bf{ \red{Simple\:Interest = 437.50}}}} \: \bigstar$

$\begin{gathered} \\ \end{gathered}$

Accumulated value is nothing but Amount. Hence, to find Amount, we use the formula:

$\begin{gathered} \\ \end{gathered}$

$\multimap \: \boxed{ \sf Amount = P+I}$

Where,

• P = Principal
• I = Simple Interest

$\begin{gathered} \\ \end{gathered}$

$\begin{gathered} \colon \longrightarrow \sf \: Amount = P+I \\ \\ \end{gathered}$

$\begin{gathered} \colon \longrightarrow \sf \: Amount = 2500+437.50 \\ \\ \end{gathered}$

$\colon \implies\underline{ \boxed{ \bf{ \green{Amount= 2937.50}}}} \: \bigstar$

Hence, the accumulated value is 2937.50

Answer 2

Question:-

Find the accumulated value of the deposit $2500 made in simple interest for 3.5 years at 5% rate of interest per year.

Required Answer:-

Given:-

$\sf{ \rightarrow{Principle \: amount \: \bold{P} = \ 2500}}$

$\sf{ \rightarrow{ Time \: \bold{T} = 3.5 years}}$

$\sf{ \rightarrow{rate \: of \: intersest \: \bold{R} = 5\%}}$

To Find:-

$\sf{ \rightarrow{accumulated \: value \: \bold{a}}}$

♡ Solution:-

As we know that,

$\underline{ \boxed{ \rm{ \blue{Simple \: interest \: \bold{I} = PTR}}}}$

Substituting the values :-

$\sf{ \bold{Simple \: Interest } = 2500 \times 3.5 \times 5\%}$

$\\ \sf{ \implies{ \bold{Simple \: Interest} = 2500 \times 3.5 \times \frac{5}{100} }}$

$\\ \sf{ \implies{ \bold{Simple \: Interest} = \pink{437.5 }}}$

Therefore, simple interest = $437.5

Again,

The accumulated value means the amount.

We know that,

$\underline{ \boxed{ \rm{ \blue{Amount \: \bold{A} = P + I}}}}$

Substituting the values:-

$\sf{ \bold{Amount} = 2500 + 437.5}$

$\\ \sf{ \implies{ \bold{Amount} = \orange{\boxed{2937.5}}}}$

Therefore, the accumulated value is $2937.5