Question

If P = 1500, Time = 2 years and R = 5% per annum then A .=​

Answer 1

Answer:

1550

Step-by-step explanation:

Given: P = 1500

          T = 2yrs

          R = 5% p.a.

Simple Interest Formula = P x R x T      =     1500 x 2 x 5

                                           -------------             ------------------

                                               100                           100

Cancel 2 zeros in 100 and 1500 as they are common to simplify.

= 15 x 2 x 5 = 15 x 10 = 150

Simple Interest = 150

Amount (A) = Simple Interest + Principle amount

                   = 150 + 1500 = 1550

Answer = 1550

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