Question
Download Solution PDFIf ₹1650 is invested at a simple interest rate of 30% per annum for 6 years, what will be the total amount at the end of the investment period?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Principal (P) = ₹1650
Rate (R) = 30% per annum
Time (T) = 6 years
Calculate Simple Interest (SI):
⇒ SI = (P × R × T) ÷ 100
⇒ SI = (1650 × 30 × 6) ÷ 100
⇒ SI = 2970
Calculate Total Amount:
⇒ Amount = Principal + Interest = 1650 + 2970 = ₹4620
Thus, the correct answer is ₹4620.
Last updated on Jun 17, 2025
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