You have deposited ₹ 1000.00 in the bank at the rate of 7% per annum simple interest. The amount at the end of 5 years = .

₹ 1350

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₹ 350

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₹ 700

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₹ 1200

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Solution

The correct option is A ₹ 1350
$S I = \frac{1000 \times 7 \times 5}{100}$
= ₹ 350.00
Hence, after 5 years, the total amount of money = ₹ 1350.00

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Q. You have deposited Rs. 1000.00 in the bank. There is a 7% interest on it every year. How much money will you have after 5 years?

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You have deposited ₹ 1000.00 in the bank at the rate of 7% per annum simple interest. The amount at the end of 5 years = .

The correct option is A ₹ 1350SI=1000×7×5100 = ₹ 350.00 Hence, after 5 years, the total amount of money = ₹ 1350.00

The correct option is A ₹ 1350
$S I = \frac{1000 \times 7 \times 5}{100}$
= ₹ 350.00
Hence, after 5 years, the total amount of money = ₹ 1350.00