Question 139

Ms suchi deposits an amount of 24000 to obtain in a simple interest at the rate of S.I 14 p.c.p.a for 8 years .what total amont will ms suchi gets at the end of 8 years

Solution

Amount deposited = Rs. 24,000

Rate = 14 % and time = 8 years under simple interest

=> $$S.I. = \frac{P \times R \times T}{100}$$

= $$\frac{24000 \times 14 \times 8}{100}$$

= $$240 \times 112 = Rs. 26,880$$

$$\therefore$$Total amount will ms Suchi gets at the end of 8 years

= $$24000 + 26880 = Rs. 50,880$$

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