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Find the amount to be paid at the end if Rs. 4,500 is invested for a period of 4 years at the rate of 8% simple interest per annum.
Question

Find the amount to be paid at the end if Rs. 4,500 is invested for a period of 4 years at the rate of 8% simple interest per annum.

A.

Rs. 5,490

B.

Rs. 6,080

C.

Rs. 5,940

D.

Rs. 6,300

Correct option is C

Given:
Principle = Rs 4500
Rate of interest = 8%p.a.
Time = 4 years
Formula Used:
Simple interest = (P×R×T)100 \frac{(P \times R\times T)}{100} 

Solution:

SI=(4500×8×4)(100) SI=1440SI= \frac{(4500 \times 8 \times 4)}{(100 )} \\\ \\SI=1440​​
Amount =Principle + Interest
=4500+1440
=Rs 5940

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