Question

Jose deposited $2500 in an account that pays 6% simple interest. How much money will he have at the end of 3 years?​

Answer 1

Answer:

$2950

Step-by-step explanation:

$2500 \times 6 \times 3 \100$

$25 \times 6 \times 3 = 450$

$2500 + 450 = 2950$

ans :- 2950

Answer 2

Answer :-

• Jose will have $2950 at the end of 3 years.

Given :-

• Jose deposited $2500 in an account that pays 6% simple interest.

To find :-

• The amount Jose will have at the end of 3 years.

Solution :-

• Here, the principal, rate and time are given to us. We have to find the total amount Jose will have at the end of 3 years. For that, we first have to find the simple interest!

We know that :-

$\bigstar \: \underline{ \boxed{ \sf SI = \dfrac{Principal \times Rate \times Time}{100} }}$

Where,

• SI = Simple Interest.

Here,

• Principal = $2500.
• Rate = 6% per annum.
• Time = 3 years.

Therefore,

$\longrightarrow\rm SI = \dfrac{2500 \times 6 \times 3}{100}$

$\rm \longrightarrow SI = \dfrac{45000}{100}$

$\rm\longrightarrow SI = \dfrac{450 \!\!\!\not0 \!\!\!\not0}{1\!\!\! \not0 \!\!\!\not0}$

$\rm \longrightarrow SI = \dfrac{450}{1}$

$\rm \longrightarrow SI = 450$

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• Now, let's find the amount!

We know that :-

$\bigstar \: \underline{ \boxed{ \sf Amount = Principal + SI}}$

Where,

• SI = Simple Interest.

Here,

• Principal = Rs 2500.
• Simple Interest = Rs 450.

Therefore,

$\tt \longrightarrow Amount = 2500 + 450$

$\tt\longrightarrow Amount = 2950$

Hence :-

• Jose will have $2950 at the end of 3 years.

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