Question

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1)Ansh deposit ₹8,800 in a company which pays $5 \frac{1}{4}$%per annum. Find how much money he would get at the end of 5 years.

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Answer 1

Answer:

Given:

Principle = Rs. 8,800

Rate of interest = 5 1/4 % => 21/4%

Time = 5 years

Simple interest = PTR/100

=> (8800*5*21/4)/100

=> 440*21/4

=> 110*21

=> Rs. 2310

Amount = Principle + Interest

=> 8800 + 2310

Amount = 11,110.

Hence, Ansh gets Rs.11,110 at the end of 5 years.