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Find the amount to be paid at the end of 3 years in the following given case:
Principal = ₹ 7,500 at 5% p.a.

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₹5625

₹8625

₹4625

₹2625

answer is B.

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Detailed Solution

Given that,
Principal (P) = ₹7,500, Interest Rate (R) = 5% per annum, and Time (T) = 3 years.
We know that,

S . I = P × R × T 100

A m o u n t = P + S . I

Where P is the principal, R is the interest rate, and T is time.

⇒ S . I . = 7500 × 5 × 3 100

⇒ S . I . = 75 × 5 × 3 1

⇒ S . I . = 1125

Find the amount to be paid:
Amount = Principal + S.I
= 7500 + 1125
= ₹8625
The amount to be paid at the end of 3 years is ₹8625.

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