Question

Rs.7500 is borrowed at 71212% rate of interest p.a. for 3 years. Find the amount to be paid at the end of 3 years.​

Answer 1

➤ Given :-

Principle :- ₹7500

Rate of interest :- 7½ %

Time :- 3 years

➤ To Find :-

Amount paid at end of 3 years

➤ Formula required :-

How to do :-

Here, we are given that principle amount is ₹7500, rate of interest is 7.5% and time is 3 years. First, we should find the simple interest by multiplying the principle, rate and time and then divide by 100 and then we should use the given formula and find the total amount.

➤ Solution :-

Simple Interest :-

Now,

Total amount :-

The total amount of the given sum is ₹9187.5.

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Some related formulas :-

Simple Interest :-  

Principle :-  

Rate of interest :-  

Time :-