To get the simple interest, the formula is:
[tex]Is=P\times r\times t[/tex]
where P = principal, r = annual rate in decimal, and t = time in years.
Since we already have those values in the question, let's plug them in to the formula above.
[tex]\begin{gathered} Is=11,750\times0.075\times3 \\ Is=2,643.75 \end{gathered}[/tex]
Hence, the total interest after 3 years is 2, 643.75 rupees.
The total amount after three years is:
[tex]\begin{gathered} FinalValue=Principal+Interest\text{ } \\ FinalValue=11,750+2,643.75\text{ } \\ FinalValue=14,393.75\text{ } \end{gathered}[/tex]
The total amount after 3 years is 14, 393.75 rupees.
