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Question

Mathematics Question on Charge Given On Borrowed Money Or Simple Interest

Find the amount to be paid at the end of 3 years in each case:

  1. Principal = Rs 1,200 at 12% p.a.
  2. Principal = Rs 7,500 at 5% p.a.
Answer

(a) Principal (P) = Rs 12001200
Rate (R) = 12%12 \% p.a.
Time (T) = 33 years

S.I=P×R×T100S.I = \frac{P\times R\times T}{100}

= 1200×12×3100\frac{1200\times 12\times3}{100}

= Rs 432432

Amount = P+S.IP + S.I.

= 1200+4321200 + 432

= Rs 16321632

(b) P = Rs 75007500, R = 5%5\% p.a.
T = 33 years

S.I=P×R×T100S.I = \frac{P\times R\times T}{100}

=7500×5×3100=\frac{7500\times5\times3}{100}

= Rs 11251125

Amount = 7500+11257500 + 1125

= Rs 86258625

Read more: Simple Interest Formula