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Question
Mahesh deposited rupees 8650 in a bank at a rate of 6 p.c.p.a. How much money will he get at the end of the year in all?
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Solution
Given:
Principal (P) = 8650 rupees
Rate of interest (R) = 6%
Time (T) = 1 year
Now, Interest = `("P" xx "R" xx "T")/100`
`= (8650 xx 6 xx 1)/100`
`= 51900/100`
= 519 rupees
Therfore, Amount = Principal + Interest
= 8650 + 519
= 9169
Hence, Mahesh will get 9169 rupees at the end of the year in all.
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