Simple Interest Practice Test 2

Question : 13 of 40

Marks: +1, -0

A sum of Rs. 1850 lent out for 5 years at 3% p.a. simple interest will amount to:

Solution:

I={ 1850×3×5}/100

= Rs. 277.50
∴ Amount = Rs. 1850 + Rs. 277.50 = Rs. 2127.50

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