Question

Rs. 1200 is lent out 5% per annum simple interest for 3 years. Find the amount after 3 years.

• A. Rs. 1380
• B. Rs. 1290
• C. Rs. 1470
• D. Rs. 1200

Answer 1

The correct option is A Rs. 1380

Here P = Rs. 1200
R = 5%, T = 3 years

$SI=\frac{PRT}{100}=\frac{1200\times 5\times 3}{100}=Rs.180$

Amount = P + SI = 1200 + 180 = 1380