DRDO Multi tasking staff Model paper 6

Given
Principal, P = Rs 70000
Rate, R = 5% p.a
Time, T = 3 years
Concept used:
Amount, A = P + SI
Simple interest, SI = PRT/100
Calculation:
Amount = P + S.I.
= P + P × R × T/100
= 70000 + 70000 × 5 × 3/100 = Rs. 80500
∴ The amount after 3 years is Rs 80500.