Question

Find the amount to be paid at the end of 3 years, if principal Rs7500, Rate of interest is 5% per annum *



Rs 8620

Rs8725

Rs8625

Rs8265

what is correct answer ​

Answer 1

the correct answer is Rs 8625

Answer 2

Answer:

Explanation:

Given :

• Principal (P) = Rs. 7500
• Time (t) = 3 years
• Rate of interest (R) = 5%

To Find :

• The amount to be paid at the end of 3 years.

Solution :

We know,

A = P(1 + R/100)ᵗ

=> A = 7500(1 + 5/100)³

=> A = 7500(100 + 5/100)³

=> A = 7500(105/100)³

=> A = 7500 × 105/100 × 105/100 × 105/100

=> A = 75 × 105 × 1.05 × 1.05

=> A = 7875 × 1.1025

=> A = 8682.1875

Hence :

The amount to be paid at the end of 3 years is Rs. 8682.1875.