You have deposited ₹ 1000.00 in the bank at a rate of interest of 7% per annum. How much money will you get after 5 years?

₹ 350.00

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₹ 70.00

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₹ 1350.00

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₹ 1070.00

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Solution

The correct option is C ₹ 1350.00
$Given: Principal = ₹ 1000, Rate = 7% p.a Time = 5 years.$

$We know that, Simple interest S I = \frac{P \times R \times T}{100} = \frac{1000 \times 7 \times 5}{100} = ₹ 350.00$

$Amount = Principal + Interest = ₹ 1000 + ₹ 350 = ₹ 1350$

$Hence, after 5 years the total amount of money received = ₹ 1350.00$

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You have deposited ₹ 1000.00 in the bank at a rate of interest of 7% per annum. How much money will you get after 5 years?

The correct option is C ₹ 1350.00Given: Principal = ₹ 1000, Rate = 7% p.aTime = 5 years. We know that, Simple interest SI=P×R×T100 =1000×7×5100 =₹ 350.00 Amount = Principal + Interest=₹1000+₹350=₹1350 Hence, after 5 years the total amount of money received =₹ 1350.00