Question

find the simple interest and amount when principal =50000,rate of interest=5 percent , time =3 years

Answer 1

Answer:

First, converting R percent to r a decimal

r = R/100 = 5%/100 = 0.05 per year.

Solving our equation:

A = 50000(1 + (0.05 × 3)) = 57500

A = $57,500.00

The total amount accrued, principal plus interest, from simple interest on a principal of $50,000.00 at a rate of 5% per year for 3 years is $57,500.00.

Answer 2

Answer:

Simple interest at a rate of 5 percent for 3 years when the principal is Rs50000 is Rs7500 and the total amount to be paid is 57500.

Step-by-step explanation:

Principal amount = Rs50000

Rate of interest per year = 5%

Number of years = 3

Simple interest can be calculated as:

SI = $\frac{P\times R\times T}{100}$

where P is principal amount, R is rate of interest per annum and T is time (here, number of years).

SI = $\frac{50000\times 5\times 3}{100}$

SI = 7500.

That is, the simple interest for Rs50000 at the rate of 5 percent by the end of 3 years is Rs7500.

Total amount to be paid is the sum of the principal amount and the interest amount.

That is,

Amount = 50000 + 7500

             = 57500.

The fianl amount to be paid is Rs 57500.