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Question

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


Solution

Formula: 1 Mark
Steps: 2 Marks
Answer: 1 Mark

Given,

Principal (P) = Rs. 1200

Rate (R) = 12% p.a.

Time (T) = 3 years

S.I.=P×R×T100

S.I.=1200×12×3100

S.I.=Rs.432

Total amount to be paid at the end of three years = P + S.I.

Amount = Rs 1200 + Rs 432

Amount = Rs 1632
Rs 1632 has to be paid at the end of three years.

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