Question

Mr. Madhur deposits an amount of ₹ 58750 to obtain a simple interest at the rate of \( 12 \% \) per annum for 4 years. What total amount will Mr. Madhur get at the end of 4 years?

Answer 1

P = principal amount  = Rs. 58750

R = 12% per annum

T = 4 years

\(\therefore \) S. I. = \(\frac{PRT}{100} = \frac{58750\times2\times4}{100}\) = 28200

\(\therefore \) Amount after the end of 4 year is

A = P + S. I. = 58750+ 28200

 = Rs.86950