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Question -

Find the amount to be paid at the end of 3 years in each case.
(a) Principal = ₹ 1200 at 12% p.a.
(b) Principal = ₹ 7500 at 5% p.a.



Answer -

(a) Given: Principal = ₹ 1200
Rate of interest = 12% p.a., T = 3 years
∴ Interest =  
Amount = Principal + Interest
= ₹ 1200 + ₹ 432 = ₹ 1632
Hence, the required amount = ₹ 1632
(b) Given: Principal = ₹ 7500
Rate = 5% p.a.
Time = 3 years
∴ Interest =  
= ₹1125
Amount = Principal + Interest
= ₹ 7500 + 11125 = ₹ 8625
Hence, the required amount = ₹ 8625.

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