Question

A sum of $Rs.2500$ is borrowed at a rate of $12\%$ per annum for $3$ years. Find the simple interest on this sum and also the amount to be paid at the end of $3$ years.

Answer 1

Given: $P=2500,R=12$%, $T=3$years

$SI=\frac{PRT}{100}$

$=\frac{2500\times 12\times 3}{100}$

$=900$

$\therefore$ Amount to be paid after $3$ years is $2500+900=Rs.3400.$