Alok deposits Rs.5,000 in his bank account for 5 years to earn an interest of 12%.what amount will he get after 5 years?
a, rs.2000
b, rs.3000
c, rs.5300
d, rs.8000
e, rs.8300
Answers
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he will get rs. 8000
that is the sum of his deposited amount and his simple interest
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Answer:
8,000
Step-by-step explanation:
Simple Interest = (P*N*r)/100
Here, Principal amount = Rs. 5,000
Number of years = 5 years
Rate of interest = 12%
S.I = (5000*5*12)/100
By solving above step, we get,
Simple Interest = Rs. 3,000
After 5 years,
Amount = S.I + Principal
= 3,000 + 5,000
Total Amount = 8,000
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