Ramesh invested ₹1,232 at 5% p.a. rate of simple interest in a bank. What amount will he get after 3 years?

Correct option is D

Given:

P (principal) = ₹1,232

R (rate of interest per annum) =  5%

​T (time) = 3 years

Formula Used:

SI = $$\frac{P\ \times\ R\ \times\ T}{100}$$​

Solution: 

Applying the formula

SI = $$\frac{1232\times5\times3}{100}$$

SI = $$\frac{18480}{100}$$

SI = 184.8

​The total amount (A),  Ramesh will get after 3 years is the sum of the principal and the interest:

A = P + SI 

 = 1232 +184.8

= 1416.8​