Question

Find the amount to be paid at the end of 3 years for Rs 7,500 at $5\%$ p.a.

• A. Rs 8700
• B. Rs 8625
• C. Rs 7625
• D. Rs 8500

Answer 1

The correct option is B

Rs 8625

Here,

P = Rs. 7500

R = $5\%$ p.a.

T = 3 years

$S.I.=\frac{P\times R\times T}{100}$

$S.I.=\frac{7500\times 5\times 3}{100}$

$S.I.=Rs.1125$

Amount = Principal + Interest

$\Rightarrow$ Amount = 7500 + 1125

Amount = Rs 8625