Question

The amount one gets after 3 years for Rs. 12,00,000 at 8% SI per annum is:

Answer 1

Answer:

Rs.32000

Step-by-step explanation:

Simple Interest in 3 years=8% of 1200000

=8/100*1200000

=8*12000

=Rs.96000

Simple interest for 3 years=96000

So, interest for 1 year=96000/3

=Rs.32000

Answer 2

The amount one gets after 3 years for Rs. 12,00,000 at 8% SI per annum is Rs. Rs. 14,88,000.

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Let's understand a few concepts:

To calculate the simple interest we will use the following formula:

$\boxed{\bold{Simple\: Interest = \frac{Principal \times Rate \times Time}{100} }}$

To calculate the amount in simple interest we will use the following formula:

$\boxed{\bold{Amount = Principal + Simple\:Interest}}$

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Let's now solve the given problem:

The sum of money i.e., Principal = Rs. 12,00,000

The no. of years i.e., Time = 3 years

The rate of interest i.e., Rate = 8% p.a.

By substituting the given values in the above formula of simple interest, we get,

The simple interest is,

= $\frac{1200000 \times 8 \times 3}{100} }}$

= $12000 \times 8 \times 3$

= $\bold{Rs.\:288000}$

Now, by using the above formula of the amount of simple interest, we get,

The amount is,

= $Principal + S.I.$

= $Rs. \:1200000 + Rs.\: 288000$

= $\bold{Rs.\: 14,88,000}$

Thus, the amount one gets after 3 years for Rs. 12,00,000 at 8% SI per annum is Rs. 14,88,000.

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