Question

Find the amount to be paid at the end of 3 years in each case: (a) Principal = ₹ 1,200 at 12% p.a. (b) Principal = ₹ 7,500 at 5% p.a.

Answer 1

$\huge\sf{Solution}$

a)Given: –

• Principal (P) = ₹ 1200
• Rate (R) = 12% p.a.
• Time (T) = 3years.

If interest is calculated uniformly on the original principal throughout the loan period, it is called Simple interest (SI).

SI = (P × R × T)/100

= (1200 × 12 × 3)/ 100

= (12 × 12 × 3)/ 1

= ₹432

Amount = (principal + SI)

= (1200 + 432)

= ₹ 1632

b)Given: –

• Principal (P) = ₹ 7500
• Rate (R) = 5% p.a.
• Time (T) = 3years.

SI = (P × R × T)/100

= (7500 × 5 × 3)/ 100

= (75 × 5 × 3)/ 1

= ₹ 1125

Amount = (principal + SI)

= (7500 + 1125)

= ₹ 8625

Answer 2

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