Q. If principal is Rs. 1500, rate 4% per annum for 3 years, what is the total amount (principal + SI)?
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Correct Answer: (A)
Rs. 1680
Explanation: SI = (1500×4×3)/100 = (1500×12)/100 = 180. Amount = 1500+180 = 1680. Option2 (1620) would be SI=120; Option3 (1560) SI=60; Option4 incorrect.
Explanation by: Mr. Dubey
SI = (1500×4×3)/100 = (1500×12)/100 = 180. Amount = 1500+180 = 1680. Option2 (1620) would be SI=120; Option3 (1560) SI=60; Option4 incorrect.