Question

Ramesh invested ₹1,232 at 5% p.a. rate of simple interest in a bank. What amount will he get after 3 years?

• A. ₹1,416.80
• B. ₹2,145.80
• C. ₹1,848.80
• D. ₹1,285.80

Answer 1

Answer:

A. ₹1,416.80

interest for one year $1232\times \frac{5}{100}=61.6$

for 3 years $=3\times 61.6=184.8$

total sum $=1232+184.8=1416.8$