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Home >> Simple Interest >> Amount >>

Find amount : Amount = Simple Interest + Principal

Amount Compound Interest Difference between Simple & Compound Interest

Formula to calculate amount
Amount = Simple interest + Principal

Let solve following problems for further understanding:

Problem 1 - Find interest on Rs 1000 for 2 years at 5% rate
Answer
Principal = Rs 1000
Time = 2 years
Rate of interest = 5%

Simple interest = (PRT) / 100
= (1000 X 2 X 5) /100
= Rs 100

Amount = Simple interest + Principal
= 100 + 1000
= Rs 1100



Problem 2 - Find interest on Rs 2000 for 2.5 years at 10% rate
Answer
Principal = Rs 2000
Time = 2.5 years
Rate of interest = 10%

Simple interest = (PRT) / 100
= (2000 X 2.5 X 10) /100
= Rs 500

Amount = Simple interest + Principal
= 500 + 2000
= Rs 2500



Problem 3 - Find interest on Rs 5000 for 1 years at 11% rate
Answer
Principal = Rs 5000
Time = 1 years
Rate of interest = 11%

Simple interest = (PRT) / 100
= (5000 X 1 X 11) /100
= Rs 550

Amount = Simple interest + Principal
= 550 + 5000
= Rs 5550



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