Question

Find the amount to be paid on Rs 15000 at 6% per annum for 3 years.​

Answer 1

Given: $P=15000,R=6\%,\ and\ \ T=3yrs.$

We have to find the amount.

As we know that the simple Interest of an amount is calculated by multiplying the interest rate by the principal amount and the time period. the time period in years.

The formula is used to calculate the simple interest is:

$S I=\frac{P R T}{100}$

Where,

P = Principal Amount

T = Time in Years

R = Rate of Interest per Annum.

We are solving in the following way:

here,

$\begin{array}{l}P=R s .15000 \\R=6 \%, \text { and } \\T=3 \text { years. }\end{array}$

Now,

The simple interest will be:

$\begin{array}{l}S I=\frac{P R T}{100} \\\\S I=\frac{15000 \times 6 \times 3}{100} \\\\S I=\frac{270000}{100} \\\\S I=2700\end{array}$

Hence, the simple interest will be$2700 R s$.

We know that,

Amount = Principal + Simple interest

So, the amount will be:

$Amount =15000+2700\\Amount = 17700$

Hence, the amount is $17700$Rs.