ASIM DEPOSITED RS. 90,000 FOR 3 YEARS AT 8 P.C.P.A IN A SAVINGS BANK ACCOUNT.FIND THE TOTAL INTEREST HE WILL GET AT THE END OF THE PERIOD.
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Answer:
Correct option is A)
Principal amount (P) = Rs 1000
Time period (T) = 1 year
Rate of interest (R) = 5 % p.a.
Simple Interest =
100
P×R×T
=
100
1000×5×1
= Rs 50
Total amount paid after 1 year = Principal amount + Interest
= Rs 1000 +Rs 50
= Rs 1050
Explanation:
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