Question
Sohan invested Rs. 11,600 at a simple interest rate of 7.5%
per annum for 3.5 years. What will be the total amount he receives after the period?Solution
ATQ,
Simple interest = Principal × Rate × Time ÷ 100
Interest earned = 11,600 × 7.5 × 3.5 ÷ 100 = Rs. 3,045
Required amount = 11,600 + 3,045 = Rs. 14,645
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