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,

Principal, $P=Rs.7500$

Rate, $R=5\%$ p.a.

Time, $T=3$ 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