Question

Calculate the amount if Rs 1,50,000 is lent at 5.5% p.a. simple interest for three years
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Answer 1

Step-by-step explanation:

I=PRT I is interest T is time period R is rate of interest P is principal amount

I=150000×5.5×3

I=24750

Total amount =

P+I

150000+24750

=174750