find the simple interest on rupees 2500 at 4.5 % per annum for 5 year
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Answer:
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Answer : rs.562.5
Step by step Explanation :
Principal (P) = rs. 2500
Rate (R) = 4.5%
Time (T) = 5 years
Simple interest = (P x R x T) /100
Simple interest = (2500 x 45 x 5) / 1000
Simple interest = 562.5
Hence, the simple interest is rs. 562.5
Step-by-step explanation:
1
st
year
Principal, P=Rs.5000
Time, T=1 year
Rate of interest ,R=6%
∴simple Interest, SI=
100
PTR
=
100
5000×10×6
=Rs.300
∴Amount=P+SI=Rs.5300
2nd year
Principal = Amount of 1st year=Rs.5300
Rate of interest =8%
Time =1 year
∴ Interest =
100
5300×1×8
=Rs.424
∴ Amount =Rs.(5300+424)=Rs.5724
The interest of 2nd year is the required compound interest. So, C.I=rs.424 and the required amount is Rs.5724
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