Question

The amount in two and half year for loan of Rs.15000/- at the rate of 15% per annum is
1)Rs.20625/- 2)Rs. 25625/- 3)Rs. 26025/- 4)Rs.25025/-

Answer 1

Option A is correct
₹ 20625

Given:

Principal (P)= ₹15000

Rate(R)= 15%

Time(T)= 2 ½ = 5/2 years

Simple interest (S.I)= P×R×T/100

S.I = (15000 × 15 × 5)/2×100

S.I= 75×75= ₹ 5625

Amount (A) = Principal + Simple interest

A= P + S.I

A= 15000 + 5625

A= ₹ 20625

Hence, the amount is = ₹ 20625

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Hope this will help you....

Answer 2

Solution :-

Principal = Rs. 15000
Time = 2 1/2 years or 5/2 years
Rate of interest = 15 % per annum.

Simple Interest = (P*R*T)/100

S.I. = (15000*15*5)/(100*2)

⇒ 1125000/200

⇒ Simple Interest = Rs. 5625

Now,

Principal + Simple Interest = Amount

⇒ 15000 + 5625

= Rs. 20625

So, amount is Rs. 20625

Option (1) is correct.

Answer.