Homework Answers
g) This question is based on Simple Interest formula as per below.
Simple Interest(SI)= Principal(P) X Rate of Interest(R) X Time(T)/100
Here Simple Interest= 300000 SR per year
Principal= 1610420 SR
Rate of Interest= ?
Time in Years= 10
SI= P X R X T / 100
R= SI X 100 / P X T
R= 300000 X 100/ 1610420 X 10
Rate of Interest(R) = 18.6286807
h) This question is based on Simple Interest formula as per below.
Simple Interest(SI)= Principal(P) X Rate of Interest(R) X Time(T)/100
Principal= 1000000 SR
Maintenance cost= 50000 SR per year
Rate of Interest= 15% per year
Time in Years= 10
SI= P X R X T / 100
SI= 1000000 X 15 X 10/100
SI= 1500000 SR
Future value of the building= 1000000(Principal)+1500000(Simple Interest)= 2500000 SR
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