Vinay borrowed a sum of 15000 rupees at the rate of interest 8% per annum for 5 years. Find the simple interest on this sum and the amount to be paid at the end of 5 years.
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Step-by-step explanation:
Given:
Principle= 15000
Rate = 8%
Time = 5 yrs
S.I. = P×R×T/100
= 15000 × 8 × 5 /100
= 150×8×5
= 150×40
= Rs. 6000
Amount = Principle + SI
= 15000 + 6000
= Rs.21000
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