Maths-

General

Easy

Question

# Find the simple interest and amount on Rs 5000 in 3 years at 8% p.a.

Hint:

### Use the formula for simple interest and then find the total amount.

## The correct answer is: 6200 Rupees

### Complete step by step solution:

We calculate simple interest by the formula,…(i)

where P is Principal amount, T is number of years and R is rate of interest

Here, we have T = 3,R = 8% and P = 5000

On substituting the known values in (i), we get

We have SI = 1200 Rupees.

We know the formula for total amount = A = P + SI…(ii)

where A is the total amount, P is the principal amount and SI is simple interest.

On substituting the known values in (ii), we get A = 5000 + 1200 = 6200

Hence total amount to be paid after 3 years = A = 6200 Rupees.

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