What principal will amount to R s .15000 at per annum in 5 years?

see full answer

Want to Fund your own JEE / NEET / Foundation preparation ??

Take the SCORE scholarship exam from home and compete for scholarships worth ₹1 crore!*

An Intiative by Sri Chaitanya

10,000

20,000

30,000

60,000

answer is A.

(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

Concept- Using the principal, interest rate, and interest period, we can calculate the interest. The primary, however, remains unknown. Thus, interest may be expressed in terms of principal. Since the amount is the total of the principle and interest, we obtain the principal by substituting the amount.
When a principal P is stored for n years at an interest rate of r, the interest is calculated as follows:

The amount received after the period is the sum of the principal and the interest.

Formula for Calculating Simple Interest Amount

Hence, the correct answer is option 1.

Watch 3-min video & get full concept clarity

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Books for IIT JEE

Best Books for NEET

🔥 Start Your JEE/NEET Prep at Just ₹1999 / month - Limited Offer! Check Now!

Get Expert Academic Guidance – Connect with a Counselor Today!

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Books for IIT JEE

Best Books for NEET