Question

If Subhash deposits Rs 1200 in the school fund at the rate of 9 p.c.p.a. for 4 years, what amount will he get at the end of the period?

Answer 1

Principal (P) = Rs 1200
Time (N) = 4 years
Rate (R) = 9 p.c.p.a
We have $\mathrm{I}=\frac{\mathrm{P}\times \mathrm{R}\times \mathrm{N}}{100}$
$$\begin{gathered} \Rightarrow \mathrm{I}=\frac{1200\times 9\times 4}{100} \\ \Rightarrow \mathrm{I}=12\times 9\times 4 \\ \Rightarrow \mathrm{I}=\mathrm{Rs}432 \end{gathered}$$
Amount = Principal + Interest
= Rs 1200 + Rs 432
= Rs 1632
∴ He will get Rs 1632 at the end of the given period.