Question

Find simple interest and amount on $Rs.15000$ at $5\%$ per annum after $2$ years.

Answer 1

The simple interest to the sum Rs. $15,000$ for $2$ years at a rate of interest $5\%$ per annum is

$S.I.=\frac{PRT}{100}$

$\Rightarrow \frac{15,000\times 2\times 5}{100}=1,500$.

The interest will be Rs. $1,500$

and the amount at the end of $2$ years.

$=P+I=15000+1500=$ Rs. $16,500$