Question 146

Ms. Anisha deposits an amount of Rs. 35000 to obtain a simple interest at the rateof 15 p.c.p.a. for 4 years. What total amount will Ms. Anisha get at the end of 4 years ?

Solution

Principal amount = Rs. 35,000

Rate of interest = 15% and time period = 4 years

Simple interest = $$\frac{35000 \times 15 \times 4}{100}$$

= Rs. $$21,000$$

Total amount Ms. Anisha will get = 35000 + 21000

= Rs. 56,000

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