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: Principal (P) = ₹15000

Rate (R) = 5%

Time (T) = 2 Years

Simple Interest (SI) = PRT / 100

=> 15000 × 5 × 2 / 100

=> ₹1500

Amount (A) = P + SI

Amount = ₹15000 + ₹1500

Amount = ₹ 16500

Answer 2

Answer:

Hence, value of interest will be Rs. 2250 while the value of Amount will be Rs. 17250

Step-by-step explanation:

In context to question asked,

We have to determine the value of interest paid.

As per question,

We have,

P = Rs. 15000

Rate = 5% annum

Time = 3 years

As we know that,

The value of simple interest can be determined by using the formula,

$SI = \frac{PRT}{100}$

So, for determining the value of Interest we will put the value of P, R and T given in the question in above formula,

Thus we will get,

$SI = \frac{15000 \times 5\times 3}{100} \\= 150 \times 5\times 3\\=>150 \times 15\\=>Rs.\:2250$

Hence, value of simple interest will be Rs. 2250

And value of amount can be determined by using the formula

$Amount = Principal + SI$

So, value of amount will be $Rs.\:15000+Rs.\:2250 = Rs.\:17250$