Find the amount to be paid at the end if ₹4,500 is invested for a period of 4 years at the rate of 8% simple interest per annum.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. ₹5,940.
SI = (P × R × T)/100 = (4500 × 8 × 4)/100 = 1440
A = 4500 + 1440 = 5940