Question

Saran deposit 7500 in his saving bank account the bank pays an interest of 5% per annum what interest and amount he will receive after 3 years

Answer 1

Answer:

the amount he will receive is 7495.

Answer 2

Before, finding the answer. Let's find out on how we can find the answer.

• In the question, they have asked us to find out the Simple Interest and Amount.
• So, to find the Simple Interest. We must use the formula of :

$\sf Simple \: Interest = \dfrac{P \times R \times T}{100}$

Here, we have to multiply the Principal, Rate and Time. And divide it by 100.

• To find the Amount, we must add the Simple Interest and Principal together.

_______________

Given :

• Principal = 7500
• Rate = 5%
• Time = 3 years

To find :

• Simple Interest
• Amount

Solution :

Simple Interest $\sf = \dfrac{P \times R \times T}{100}$

                         $\sf = \dfrac{7500 \times 5 \times 3}{100}$

                         $\sf = \dfrac{ 37500\times3 }{100}$

                         $\sf = \dfrac{112500}{100}$

                         $\sf = 1125$

Hence, Simple Interest is Rs.1125.

Amount = Principal + Simple Interest

             = 7500 + 1125

             = Rs. 8625

Hence, Saran will receive Rs.8625 after 3 years.