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Question

Find the amount obtained by investing 24,000 at 18% p.a. simple interest for five years.


A
21600
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B
44000
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C
45600
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D
48000
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Solution

The correct option is C 45600
Simple Interest $$ SI = \frac {PNR}{100} $$
So, $$ SI = \frac {24,000 \times 5 \times 18}{100} = Rs  21,600 $$
Now $$ Amount  A = P +SI = 24,000 + 21,600 =Rs  45,600 $$

Mathematics

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