Rs 7500 is borrowed at 7.5% rate of interest per annum for 3 years. Find the amount to be paid at the end of 3 years.
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Answered by
5
Answer:
Rs. 9187.5
Step-by-step explanation:
Simple Interest = PTR/100
= 7500* 3 * 7.5/100
= 225 * 7.5 (as the zeros of 22500n get cancelled by 100)
= 1687.5 ( is the interest )
Amount = 7500 + 1687.5 = 9187.5
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Answered by
8
Given:
Principal amount = Rs. 7500
Rate of interest = 7.5% per annum
To find:
Amount to be paid at the end of 3 years.
Solution:
Simple interest is given by the formula
S.I. = PRT/100
Where,
P = Principal amount
R = Rate of interest
T = Time
=> S.I. = 7500 * 7.5 * 3 / 100
=> S.I. = 1687.5
Total amount = principal amount + simple interest
= 7500 + 1687.5 = 9187.5
Hence, the amount to be at the end of 3 years is Rs. 9187.5
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