Question

find the simple interest on Rs 10,000 for 4 years at the rate of 5whole 1/2% . find the total amount due after four years. ​

Answer 1

Answer:

Solution:

P = $ 900,

R = 5% p.a.

T = 3 years 4 months = 40/12 years = 10/3 years

Therefore, S.I = (P × R × T)/100 = (900 × 5 × 10)/(100 × 3) = $ 150

Amount = P + S.I = $ 900 + $ 150 = $ 1050