Question

what is the amount obtained by investing ₹24000 at 18% p.a. simple interest for five years?​

Answer 1

As we know that :

Simple Interest :

$\frac{p \times r \times t}{100} = \frac{24000 \times 18 \times 5}{100} = 21600$

Amount = Principal + Interest

=> Amount = 24000 + 21600 = 55600 Rs.

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