Question

Question 77

In questions 60 to 79, state whether the statements are True or False.
Amount received after depositing ₹ 800 for a period of 3 yr at the rate of 12 % per annum is ₹ 896.

Answer 1

False

Given, P = ₹ 800, T = 3 yr and R = 12 %

$\therefore I=\frac{P\times R\times T}{100}=\frac{800\times 12\times 3}{100}=$₹ 288

Also, amount, (A) = P + I = 800 + 288 = ₹ 1088
Hence, the amount received is ₹ 1088.