A principal of Rs. 50000 is invested at simple interest for 8 years. If the per annum rate of interest is 12 percent, then what will be the amount after 8 years?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. Rs. 98000.
S.I. = (P × R × T)/100
here, S.I. = Simple Interest, P = Principal, R = Rate, and T = Time
⇒ S.I. = (50000 × 12 × 8)/100
⇒ S.I. = 500 × 12 × 8
⇒ S.I. = Rs. 48000
Amount = Interest + Principal
Amount = 48000 + 50000
Amount = Rs.98000