Question

Find the simple interest and the total amount after three years.Principal = 11,750 rupeesAnnual rate of interest = 7.5%Total interest =rupeesTotal amountrupees

Answer 1

To get the simple interest, the formula is:

`Is=P* r* t`

where P = principal, r = annual rate in decimal, and t = time in years.

Since we already have those values in the question, let's plug them in to the formula above.

`\begin{gathered} Is=11,750*0.075*3 \\ Is=2,643.75 \end{gathered}`

Hence, the total interest after 3 years is 2, 643.75 rupees.

The total amount after three years is:

`\begin{gathered} FinalValue=Principal+Interest\text{ } \\ FinalValue=11,750+2,643.75\text{ } \\ FinalValue=14,393.75\text{ } \end{gathered}`

The total amount after 3 years is 14, 393.75 rupees.