Question

( 4x3=12)
a) Raman deposited rupees 5600 in his account. The bank pays an interest of 7% per annum.
What amount will get back after 3 years.​

Answer 1

Step-by-step explanation:

Principle of Raman = ₹ 5600

Rate of interest = 7% per annum

Time = 3 years

We know that,

$Simple \:interest = \frac{P\times R\times T} {100}$

$Simple \:interest = \frac{5600\times7\times3} {100}$

$Simple \:interest = 56\times 21$

$Simple \:interest = ₹ 1176$

$Amount = simple\: interest + principle$

$Amount = 1176+ 5600$

$Amount = ₹6776$

Therefore, ₹ 6776 amount will get back after 3 years.