Question

the intrest on rs 30000for 3years at the rate of 15%p.a is
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Answer 1

Answer:

Given, Principal=Rs.30000,

Time=3years

Rate=15%p.a.

Interest= P×R×T/100

T= Time period

R%= Rate of interest

P= Principal

=30000× 15/100 x 3

⇒Rs.13500

Step-by-step explanation:

Hope it helps you ✌️✌️

Answer 2

Given:

✰ Principal = Rs. 30000

✰ Rate = 15%

✰ Time = 3 years

To find:

✠ Interest.

Solution:

This question is from the topic Simple Interest.

Sometimes we need to borrow money from a bank or a money lender for a specified period of time. At the end of this specified period, we have to pay back to the money which we had borrowed plus some additional money for using the lender's money. In this connection, we use some related terms which are given below.

Principal:

• The money borrowed is called the principal or sum

Interest:

• The additional money paid by the borrower after specified period of time in lieu of the money borrowed is called interest.

Amount:

• The total money that is the principal along with the interest paid back is called the amount.

Rate:

• When the interest is expressed in terms of some percent and calculated per year, it is called the rate of interest per annum.

Time:

• It is the time for which the money is borrowed.

N.B: When we say interest we generally means simple interest.

Now let's find the interest...✧

Here in this question, we will use formula to calculate the interest. Putting the values in the formula and then doing the required calculations, we will easily get the required solution.

✭ I = ( P × R × T )/100 ✭

Where,

• I = Interest.
• P = Principal.
• R = Rate of interest per annum.
• T = Time in years.

Putting the values in the formula, we have:

➤ I = ( 30000 × 15 × 3 )/100

➤ I = 300 × 15 × 3

➤ I = 300 × 45

➤ I = Rs. 13500

∴ The interest at the end of 3 years = Rs. 13,500

Now, what if we need to find Amount too?

Let's see how to find amount at the end of 3 years.

➤ A = P + I

Where,

• A = Amount
• P = Principal
• I = Interest

➤ A = 30000 + 13500

➤ A = Rs. 43,500

∴ The amount at the end of 3 years = Rs. 43,500

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