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

see full answer

Start JEE / NEET / Foundation preparation at rupees 99/day !!

21% of IItians & 23% of AIIMS delhi doctors are from Sri Chaitanya institute !!

An Intiative by Sri Chaitanya

₹5625

₹8625

₹4625

₹2625

answer is B.

(Unlock A.I Detailed Solution for FREE)

Ready to Test Your Skills?

Check your Performance Today with our Free Mock Test used by Toppers!

Take Free Test

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.

Watch 3-min video & get full concept clarity

JEE

NEET

Foundation JEE

Foundation NEET

CBSE