Ali deposits an amount of X 65800 to obtain a simple interest at the rate of 14% per annum for 4 year. What total amount will Ali get at the end of 4 year?
- 102648
- 102647
- 102646
- 102645
Explanation
Principal amount (X) = 65800
Rate of interest (R) = 14% per annum
Time (T) = 4 years
Simple interest (SI) = (X x R x T) / 100
= (65800 x 14 x 4) / 100
= 36848
Total amount (A) = Principal + Simple interest
= X + SI
= 65800 + 36848
= 102648
So, Ali will indeed get a total amount of 102648 at the end of 4 years.
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