If a person invests Rs. 33250 in an account that yields 7.4% p.a. simple interest, then how much (in Rs.) does he has after 5 years?
- A45552.5
- B12302.5
- C42255.25
- D47552.75
Solution & Step-by-step Explanation
Given:
Principal (P) = Rs. 33250
Rate (R) = 7.4% p.a.
Time (T) = 5 years
First, calculate Simple Interest (SI):
SI=
100
P×R×T
SI=
100
33250×7.4×5
SI=
100
33250×37
=332.5×37=12302.5
Total Amount (A) after 5 years:
Amount=P+SI
Amount=33250+12302.5=45552.5
Principal (P) = Rs. 33250
Rate (R) = 7.4% p.a.
Time (T) = 5 years
First, calculate Simple Interest (SI):
SI=
100
P×R×T
SI=
100
33250×7.4×5
SI=
100
33250×37
=332.5×37=12302.5
Total Amount (A) after 5 years:
Amount=P+SI
Amount=33250+12302.5=45552.5