Q.At an annual interest rate of 4%, the amount of ₹450 after 3 years becomes — (a) ₹ 500 (b) ₹ 504 (c) ₹ 510 (d) ₹ 516
Answer: B
Principal \((p) = ₹450\) Time \((t) = 3\) years Rate of interest \((r) = 4\%\) ∴ Interest \((I) = \cfrac{ptr}{100}\) \(= \cfrac{450 \times 3 \times 4}{100}\) \(= ₹54\) ∴ Amount (450 + 54) = ₹504
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