Question

Find the amount to be paid at the end of 3 years for the sum of Rs 1,200 at the rate of $12\%$ p.a.
[4 MARKS]

Answer 1

Concept : 1 Mark
Application : 1 Mark
Calculation : 2 Marks

Given,

Principal (P) = Rs. 1200

Rate (R) = $12\%$ p.a.

Time (T) = 3 years

$S.I.=\frac{P\times R\times T}{100}$

$S.I.=\frac{1200\times 12\times 3}{100}$

$S.I.=Rs.432$

Amount = P + S.I

Amount = Rs 1200 + Rs 432

Amount = Rs 1632