Question

What amount a person will get after 3 1by2 years at 6% per annum if he invited rupees 3.2 lakhs in a bank

Answer 1

S.I. ={320000×6×(31/2)} /100

     = 3200×3×31

     = 99200×3

     =297600

∴ The amount = (320000+297600)

                         = 617600

                         = 6.1760 lakhs