Simple Interest Ques 1
Question-
What total amount would Mithilesh get at the end of three years if he invests an amount of ₹ 11,200 in a scheme which offers simple interest at the rate of 8.5 p. c. p. a. for three years?
(1) ₹ 14,056
(2) ₹ 14,348
(3) ₹ 13,852
(4) ₹ 15,064
(5) None of these
(Indian Bank PO Exam. 02.01.2011)
Show Answer
Correct Answer: (1)
Solution: (1)
S.I. $=\frac{\text { Principal } \times \text { Time } \times \text { Rate }}{100}$ $=\frac{11200 \times 3 \times 8.5}{100}= \text{₹} 2856$
$\therefore$ Required amount $= \text{₹} (11200+2856)$ $= \text{₹} 14056$
BETA
