A man lends sixty thousand at nine percent simple interest per year. What amount is due after three years including principal and interest
A man lends sixty thousand at nine percent simple interest per year. What amount is due after three years including principal and interest
Past Papers:
PPSC Assistant (BS-16) — Past Paper MCQs
A: 16200
B: 76200
C: 70200
D: None of these
Simple interest equals P r t. That is 60000 times 0.09 times 3 which equals 16200. Add to principal to get 76200. Option A shows interest only. Option C is incorrect total. Therefore the correct payable amount is seventy six thousand two hundred after three years. Select option B.