Alok deposits Rs.5,000 in his bank account for 5 years to earn an interest of 12%. What amount will he get after 5 years ?



Alok deposits Rs.5,000 in his bank account for 5 years to earn an interest of 12%. What amount will he get after 5 years ?

A . Rs 2000

B . Rs 3000

C . Rs 8300

D . Rs 8000

Answer : D . 8000


Explanation:

    P = 5000 ; N = 5 ; R = 12
    Simple Interest = PNR / 100
    = 5000 * 5 * 12 / 100
    S.I = 3000 amount
    After 5 yrs = Principle + S.I
    = 5000 + 3000
    = 8000


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