Question

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

Answer 1

Answer: 11750 + 2643.75

Explanation:

The formula for calculating simple interest is expressed as

I = PRT

where

I represents the interest

P represents the principal or initial amount invested

R represents the interest rate

T represents the time in years

From the information given,

P = 11750

R = 7.5%

Recall, percentage is expressed in terms of 100. Thus,

R = 7.5/100 = 0.075

T = 3

By substituting these values into the formula,

I = 11750 x 0.075 x 3

I = 2643.75

Total interest = 2643.75 rupees

Total amount = principal + total interest

By substituting the values,

Total amount = 11750 + 2643.75

Answer 2

The formula for calculating simple interest is expressed as

I = PRT

where

I represents the interest

P represents the principal or initial amount invested

R represents the interest rate

T represents the time in years

From the information given,

P = 11750

R = 7.5%

Recall, percentage is expressed in terms of 100. Thus,

R = 7.5/100 = 0.075

T = 3

By substituting these values into the formula,

I = 11750 x 0.075 x 3

I = 2643.75

Total interest = 2643.75 rupees

Total amount = principal + total interest

By substituting the values,

Total amount = 11750 + 2643.75

Total amount =