Question

Calculate simple interest and maturity value

Principal is. 6,000. interest rate 5%. the time is 15. what is the solution

Answer 1

Simple interest=4500

maturity value= 10500

Explanation:

Given: Principal P = 6000

Rate % R = 5%

time T = 15 years

we know that simple interest
`SI=(PRT)/(100)`

⇒
`SI=(6000*5*15)/(100)`

on calculating we get SI = 4500

and maturity value = Principal amount + Simple interest

maturity value = 6000+4500 = 10500

hence the final answers are

Simple interest= 4500

and maturity value= 10500

hope this helps!!