solve the following. if Reena deposit Rs1500 in schoolfund at 9p.c.p.a for 2 years what is the total amount she will get .
Answers
Solution!!
The concept of simple interest has to be used here. The principal, rate of interest and time is given in the question. We have to find the amount.
Principal (P) = Rs 1500
Rate of interest (R) = 9%
Time (T) = 2 years
We will find the interest first by using a suitable formula.
Interest = (P × R × T)/100
Interest = (1500 × 9 × 2)/100
Interest = 15 × 9 × 2
Interest = Rs 270
Now, let's find the amount.
Amount = Principal + Interest
Amount = Rs 1500 + Rs 270
Amount = Rs 1770
Hence, the amount she will receive is Rs 1770.
Answer:
Principal = ₹1500
Rate of interest = 9%
Time = 2years
Simple interest = P×R×T
= ₹1500×9×2 / 100
= 15×9×2
= ₹270
Total Amount = P + S.I
= ₹1500 + ₹270
= ₹1770
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