Rs. 1200 is lent out at 5% per annum simple interest for 3 years. Find the amount after 3 years.a)Rs. 1380b)Rs. 1290c)Rs. 1470d)Rs. 1200Correct answer is option 'A'. Can you explain this answer?

Question

Answer

Given: Principal amount (P) = Rs. 1200, Rate of interest (R) = 5%, Time period (T) = 3 years.

To find: Amount after 3 years.

Formula used: Simple Interest (SI) = (P x R x T) / 100
Amount (A) = P + SI

Calculation:

- Simple Interest (SI) = (P x R x T) / 100
= (1200 x 5 x 3) / 100
= Rs. 180

- Amount (A) = P + SI
= 1200 + 180
= Rs. 1380

Therefore, the amount after 3 years is Rs. 1380, which is option A.

Answer

As here Principal is 1200 Rupees

so Simple interest formula, SI=PRT/100

hence we equate that

SI=1200*5*3/100

so we get 180 by solving But this is the interest only on the principal but final amount to be paid is Principal + interest

Hence = 1200+180= 1380 RUPEES

ANSWER IS 1380 RUPEES

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