Question

What sum will amount to Rs
8800 in 2 years at 5% simple interest?

Answer 1

Amount inclusive of Simple interest = A = ?

P = Principal Amount = 8800

T = Time = 2 years

R = Rate of interest Per Annum = 5%


we know that

A = P(1 + TR)

=8800(1 + 2×5/100)

=8800(1 + 10/100)

=8800(1 + 0.1)

=8800(1.1)

=9680 is the final amount