Question
Download Solution PDFA sum of Rs. 28500 is lent out at 6.4% per annum simple interest for 10 years. What will be amount after 10 years?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven
Principal (P) = Rs. 28500
Rate of interest (R) = 6.4% per annum
Time (T) = 10 years
Formula used:
Simple Interest = PRT/100
Solution:
⇒ Simple Interest = (28500 × 6.4 × 10)/100
⇒ Total Amount = Principal + Simple Interest
Therefore, the amount after 10 years will be Rs. 46740
Last updated on May 28, 2025
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