Answer:
The simple interest on the given principal after 1 year = Rs. 1,000
The amount Rishav has to pay after an year = Rs 11,000
Step-by-step explanation:
Here, the Principal amount taken = Rs 10,000
Rate of Interest = 10%
Time Period = 1 year
Now, the SIMPLE INTEREST = [tex]\frac{P \times R \times T}{100}[/tex]
or, [tex]SI = \frac{10,000 \times 10 \times 1}{100} = 1,000[/tex]
So, the simple interest on the given principal after 1 year = Rs. 1,000
Now, Amount = Principal + Simple Interest
or , A = 10,000 + 1,000 = 11, 000
Hence, the amount Rishav has to pay after an year = Rs 11,000
