Question 22

What will be the maturity value, if Rs. 13,500 is deposited at a simple rate of interest of 12.5% for two years?

Solution

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

S.I = $$\frac{13500\times\ 12.5\times\ 2}{100}=3375$$

A = P + S.I = 13500 + 3375 = Rs 16875.

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