Multiple choice

What will be the total amount (Principal amount +Interest) of Rs. $ 750$ as principal at the rate of $8\%$ for $4\dfrac{1}{2}$ years?

  1. Rs. $ 1020$
  2. Rs. $ 1030$
  3. Rs. $ 1040$
  4. Rs. $ 1050$
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A Correct answer
Explanation

Simple Interest = (P*R*T)/100 = (750 * 8 * 4.5) / 100 = 7.5 * 8 * 4.5 = 60 * 4.5 = 270. Total Amount = 750 + 270 = 1020.

AI explanation

Using the simple interest formula, the interest is calculated as Principal multiplied by Rate multiplied by Time divided by 100. Substituting the values gives 750 multiplied by 8 multiplied by 4.5, which equals 27000, and dividing by 100 gives an interest of Rs. 270. Adding this interest to the principal of Rs. 750 gives a total amount of Rs. 1020.

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