Question

Find the amount to be paid at the end of 3 years when principal is Rs 7500 at 5 % p.a.

simple interest.
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Answer 1

SI=PRT/100
=7500x5x1/100
=375
Amt=principal+interest
=7500+375=7875
SI for second year
=7875x5x1/100
=393.75
Amt=393.75+7875
=8268.75
SI for the third year
=8268.75x5x1/100
=413.437
Amt=413.437+8268.75
=8682.157

Answer 2

The amount to be paid at the end of 3 years when the principal is Rs 7500 at 5 % p.a. simple interest is Rs. 8625.

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Let's understand a few concepts:

To calculate the simple interest we will use the following formula:

$\boxed{\bold{Simple\:Interest = \frac{Principal \times Rate \times Time}{100} }}$

To calculate the amount in a simple interest we will use the following formula:

$\boxed{\bold{Amount = Principal + S.I.}}$

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Let's solve the given problem:

The sum of amount (P) = Rs. 7500

The rate of interest (R) = 5% p.a.

The no. of years (T) = 3 years

By using the above formula of simple interest, we get

The simple interest is,

= $\frac{7500 \:\times\: 5\: \times\:3}{100}$

= $75 \:\times\: 5\: \times\:3$

= $Rs. \:1125$

Therefore,

The amount to be paid at the end of 3 years is,

= $P + S.I.$

= $Rs.\:7500 + Rs.\:1125$

= $\bold{Rs. \:8625}$

Thus, the amount to be paid at the end of 3 years when the principal is Rs 7500 at 5 % p.a. simple interest is Rs. 8625.

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