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Question
Find the amount to be paid at the end of 3 years in given case:
Principal = ₹ 1,200 at 12% p.a.
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Solution
Principal = ₹ 1200
Rate = 12% p.a.
Time = 3 years
Simple interest in years = `("Principal" xx "Rate" xx "Time")/100`
= `(1200 xx 12 xx 3)/100`
= ₹ 432
Amount = Principal + Simple Interest
= 1200 + 432
= ₹ 1632
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