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Question
Amount received after depositing ₹ 800 for a period of 3 years at the rate of 12% per annum is ₹ 896.
Options
True
False
Solution
This statement is False.
Explanation:
Given, P = ₹ 800, T = 3 yr and R = 12%
∴ I = `(P xx R xx T)/100`
= `(800 xx 12 xx 3)/100`
= ₹ 288
Also, amount, (A) = P + I
= 800 + 288
= ₹ 1088
Hence, the amount received is ₹ 1088.
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