Question

Find the amount to be paid at the end of 3 years if the principal is ₹12,000 and the rate of simple interest is 5% per annum.

• A. ₹13,800
• B. ₹14,400
• C. ₹16,000
• D. ₹16,600

Answer 1

The correct option is A ₹13,800

Simple interest (S.I.) = $\frac{Principal\left(P\right)\times Time\left(T\right)\times Rate\left(R\right)}{100}$
$=\frac{₹12,000\times 3\times 5}{100}=₹1,800$
So, Amount = ₹12,000 + ₹1,800 = ₹13,800