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Find the amount to be paid at the end of 3 years in each case:
$(a)$. Principal$=Rs.\ 1,200$ at $12\ %$ p.a.
$(b)$. Principal$=Rs.\ 7,500$ at $5\ %$ p.a.
$(a)$ Here, Principal $(P)=Rs.\ 1,200$
Rate $(R)=12 \% p.a.$,
Time $(T)=3\ years$
Simple Interest$=\frac{P\times R\times T}{100}$
$=\frac{1200\times12\times3}{100}$
$= Rs.\ 432$
Now, $Amount=Principal+Simple Interest$
$=1200+432$
$=Rs.\ 1,632$
$(b)$ Here, Principal $(P)=Rs.\ 7,500$,
Rate $(R)=5 \% p.a.$,
Time $(T)=3\ years$
$Simple Interest=\frac{P\times R\times T}{100}=\frac{7500\times5\times3}{100}$
$=Rs.\ 1125$
Now, $Amount=Principal+Simple\ Interest$
$=7,500+1,125$
$=Rs.\ 8625$
Updated on: 10-Oct-2022
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