Ms. Sandhya deposits an amount of Rs 31,400 to obtain a simple interest at the rate of 12 per cent per annum for 8 years.
Ms. Sandhya deposits an amount of Rs 31,400 to obtain a simple interest at the rate of 12 percent per annum for 8 years. What total amount will Ms. Sandhya get at the end of 8 years?
(a) Rs 31,444
(b) Rs 61,544
(c) Rs 41,544
(d) Rs 31,144
(e) None of these
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(b) Simple Interest = P×R×T / 100 = 31400 x 8 x 12 / 100
= Rs 30144
Therefor Required amount = Rs (31400 + 30144)
= Rs 61544
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