Consumer Arithmetic >> Interest

Find interest and total amount - Interest - Consumer Arithmetic problem solver

A nationalised bank bank sanctioned Rs. 150000 (principal) as house Loan to Ramesh. If the rate of simple interest is 7.5 percentage for the period of 5 years (terms) find the simple interest and total cost (total cost) to be paid by Ramesh.


principal = 150000
rate = 7.5
terms = 5
SI =  ( P * n * r ) / 100
simple interest = ( 150000 * 5 * 7.5 ) / 100
simple interest = 56250
So the simple interest is 56250
simple interest = 56250
tc =  P + SI
total cost = 150000 + 56250
total cost = 206250
So the total cost is 206250

Interest Formulas :

CI =  pow( P * ( 1 + ( r / 100 ) ), n ) - P

SI =  ( P * n * r ) / 100

d =  CI - SI

P =  P - m

tc =  P + SI

m =  tc - P

mp =  ( m * 100 ) / tc

emi =  tc / ( n * 12 )


where,

CI = compound interest
P = principal
r = rate
n = terms
SI = simple interest
d = difference
tc = total cost
m = margin
mp = margin percentage
emi = emi

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