Question

If the principal is $Rs1500$ and rate of interest is $7\%$ $p.a$ , then the amount at the end of $5years$ is $Rs$ …………………. .

Answer 1

Given,

Prinicpal , $P$$=$$Rs1500$

Rate of Interest, $R\%$ $=$ $7\%$

Time ,$T$ $=$ $5years$

Note : we have a formula to find simple interest i.e $Interest$ or $I$ or $SI$ and $Amount$ $I=\frac{P\times T\times R}{100}$ $Amount=Principal+Interest$ i.e $A=P+\hspace{0.17em}I$

Step1 : Lets find Interest ,

Interest , $I=\frac{P\times T\times R}{100}$

$I=\frac{1500\times 5\times 7}{100}$

$I=\frac{52500}{100}$ ( on dividing $52500$ by $100$, we get $525$ )

$I=525$

Step2 : Find Amount ,

$A=P+\hspace{0.17em}I$

$A=1500+\hspace{0.17em}525$

$A=2025$

Therefore, the is $Amount$ is.$Rs2025$

Hence, the answer for given blank is $Rs2025$.