Question 4

What is the maturity value of Rs.25000 at the end of 2 years at 9.25% Simple Interest?

Solution

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

S.I = $$\frac{25000 \times 9.25 \times 2}{100}$$

= 4625

Maturity value = P + S.I

= 25000 + 4625

= Rs.29625

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