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    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?
    A Rs.15,350 Correct Answer Incorrect Answer
    B Rs.12,150 Correct Answer Incorrect Answer
    C Rs.10,150 Correct Answer Incorrect Answer
    D Rs.18,100 Correct Answer Incorrect Answer

    Solution

    ATQ,

    Simple interest = Principal × Rate × Time ÷ 100

    Interest earned = 9,000 × 7 × 5 ÷ 100 = Rs. 3,150

    Required amount = 9,000 + 3,150 = Rs.12,150

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