Question
Amit invested Rs. 12,500 at a simple interest rate of 5.2%
per annum for 6 years. Calculate the total amount he will receive.Solution
ATQ,
Simple interest = Principal × Rate × Time ÷ 100
Interest earned = 12,500 × 5.2 × 6 ÷ 100 = Rs. 3,900
Required amount = 12,500 + 3,900 = Rs. 16,400
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