Question

What is the amount of Rs 1200 and an annual rate of 5.5% for 5 years
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Answer 1

Answer:

Rs. 1530

Step-by-step explanation:

By applying the below formula of simple interest,

I = PRN / 100

   where I= interest

              P= principal

              R = Rate of interest

              N= No. of years

I = 1200 * 5.5 * 5 / 100

     Rs.330

Amount =  Principal + Interest

              = 1200+330

              = Rs.1530

Hope it helps you...