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Question

Question 9 (b)
Find the amount to be paid at the end of 3 years in each case:
(b) Principal = Rs 7,500 at 5 % p.a.

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Solution

b) The rate of interest is 5% p.a.


The principal amount, P = Rs. 7500

Rate of Interest, R = 5 % p.a.

Time, T = 3 years

S.I.=P×R×T100

S.I.=7500×5×3100

S.I.=Rs 1125

Amount = Principal + Interest

Amount = 7500 + 1125

Amount = Rs 8625

Hence, the total amount to be paid at the end of three years is Rs 8625


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