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Q.9 Find the amount to be paid at the end of 3 years in each case.
(a) Principal = Rs. 1200 at 12% p.a.
(b) Principal = Rs. 7500 at 5% p.a.

Answer :

(a) Given: Principal = Rs. 1200
Rate of interest = 12% p.a., T = 3 years
\(\therefore \) Interest = \(\frac{P×R×T}{100} \) =\(\frac{1200×12×3}{100} \)= Rs. 432
Amount = Principal + Interest
= Rs 1200 + Rs 432 = ? 1632
(b) Given: Principal = Rs. 7500
Rate of interest = 5% p.a., T = 3 years
\(\therefore \) Interest = \(\frac{P×R×T}{100} \) =\(\frac{7500×5×3}{100} \) =Rs.1125
Amount = Principal + Interest
= Rs. 7500 + 1125 = Rs. 8625