Question 139
Ms. Suchi deposits an amount of Rs. 24,000 to obtain a simple interest at the rate of 14 p.c.p.a. for 8 years. What total amount will Ms. Suchi get at the end of 8 years?
Solution
Principal = Rs. 24,000
S.I. = $$\frac{24000 \times 14 \times 8}{100}$$
= Rs. 26,880
$$\therefore$$ Total amount = 24000 + 26880
= Rs. 50,880
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