Question
Neha deposits Rs. 9,000 at a simple interest rate of 7% per
annum for 5 years. What amount will she get at the end of the term?Solution
ATQ,
Simple interest = Principal Ă— Rate Ă— Time Ă· 100
Interest earned = 9,000 Ă— 7 Ă— 5 Ă· 100 = Rs. 3,150
Required amount = 9,000 + 3,150 = Rs.12,150
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