Question

Find the interest and amount to be paid at the end of 3 years for a principal of Rs. 15000 at 5% per annum

Answer 1

Answer:

The interest is 2250 Rs and the amount to be paid is 17250 Rs at the end of 3 years for a principal of Rs. 15000 at 5% per annum

Step-by-step explanation:

Given: Time = 3 years

Principal = Rs 15000

Rate = 5%

Find : Interest and amount

Formula:

Interest $= \frac{P\times N\times R}{100}$

Amount = Interest + Principal

Step 1: Find interest by using the formula

Interest

$= \frac{P\times N\times R}{100} =\frac{15000 \times 3 \times 5}{100} \\= 150 \times 15\\= 2250Rs$

Step 2: Find Amount

Amount = Interest + Principal

= 2250 + 15000

Amount = 17250 Rs

Answer 2

Answer:

∴ Simple interest is Rs. $2250$ and amount is Rs. $17250$.

Step-by-step explanation:

In context with question asked,  

• We have to find the amount of simple interest.
• Here, it is given that, Time period (T) = $3$ years

                               Principal (P) = Rs. $15000$

                       Rate of interest (R) = $5$%

• So, we know the formula for calculating simple interest as,

     Simple Interest (SI) = $\frac{P\times R\times T}{100}$

                                   = $\frac{15000\times 5\times 3}{150}$

                                   = $150\times 15$

                                   = Rs. $2250$

• Now,

           Amount = Principal + Simple interest

                       = $15000+2250$

                       = Rs. $17250$

• ∴ Simple interest is Rs. $2250$ and amount is Rs. $17250$.