Answer:
:
Formula: 1 Mark
Steps: 1 Mark
Each answer: 1 Mark
Given,
Harish borrowed₹ 7500 from a bank.
a) The rate of interest is 5 % p.a.
The principal amount, P =₹ 7500
Rate of Interest, R = 5 % p.a.
Time, T = 3 years
$S.I.=\frac{P\times R\times T}{100}$
$S.I.=\frac{7500\times 5\times 3}{100}$
S.I.=₹1125
Amount = Principal + Interest
$\Rightarrow$ Amount = 7500 + 1125
Amount = ₹ 8625
Hence, the total amount to be paid at the end of three years is ₹8625
b) Now, Harish was able to pay only ₹5625.
So, the remaining amount
= ₹(8625 - 5625) =₹ 3000
The new principal amount = ₹ 3000
The rate of interest is same =5 % p.a.
The interest which he has to pay at the end of the fourth year
=$\frac{5}{100}\times 3000$ = ₹150
So, the amount which Harish has to pay at the end of the fourth year
= 3000 + 150 = ₹3150