Question

What will be FV, if investment is Rs. 5000 at 13%
simple interest rate for 7 years?
Rs.
9,550
Rs.
5,955
Rs.
9,200
Rs.9,100

Answer 1

Answer: 9550

Step-by-step explanation:

SI = PNR/100

= 5000*7*13/100

= 4550

FV = P + SI

= 5000 + 4550

= 9550

Answer 2

Answer:

Rs. 9,550 ✔️

Step-by-step explanation:

To find:

• What will be FV, if investment is Rs. 5000 at 13% simple interest rate for 7 years?

Solution:

First we will calculate S.I by using its respective formula and doing simple mathematical calculations.

★ S.I. = (P × R × T)/100

Where,

S.I. = Simple interest

P = Principal

R = Rate percent

T = Time

Here,

P = Rs. 5000

R = 13%

T = 7 years

Putting the values in the formula, we have:

• S.I. = (5000 × 13 × 7)/100
• S.I. = 50 × 13 × 7
• S.I. = 650 × 7
• S.I. = Rs. 4,550

Finally, calculate Future value, FV

★ FV = P + S.I.

Where,

FV = Future value

S.I. = Simple interest

P = Principal

Here,

P = Rs. 5000

S.I. = Rs. 4,550

Putting the values in the formula, we have:

• FV = Rs. (5000 + 4550)
• FV = Rs. 9,550

Therefore, Future value i.e, FV = Rs. 9550

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