If Furqan invest 50,000 is a saving account @10% per year, how much would be have in one year?
- 55,000
- 56,000
- 57,000
- None of these
Explanation
Simple interest for 1 year:
Principal = Rs. 50,000
Rate = 10% per year
Time = 1 year
Interest = Principal x Rate x Time / 100
= 50000 x 10 x 1 / 100
= Rs. 5,000
Total amount after 1 year = Principal + Interest
= 50,000 + 5,000
= Rs. 55,000
Last verified on 25-08-2026
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