A man invested 50,000 at 8% per annum simple interest for 3 ye... | Mathematics MCQ | Examoogle

Examoogle • User • info@examoogle.com • EE-2024-8821

Chapter 1 of 12 • Page 1 of 248🔒 Protected PDF • Watermarked

MathematicsSimple & Compound Interest

A man invested 50,000 at 8% per annum simple interest for 3 years. Find the total amount he will receive after 3 years.

58,000

60,000

62,000

64,000

Correct Answer

📐 MA • Math Direct FormulaMathematicsSimple & Compound Interest

Option C

62,000

Quick Summary:

Multiply P by (R×T)/100 directly: 50000×24÷100=12000, then add to P

📐MAMath SolutionDirect Formula

📋 Given

Principal P = 50000, Rate R = 8% per annum, Time T = 3 years

🔢 Formula Used

SI=P×R×T100SI = \frac{P \times R \times T}{100}SI=100P×R×T​

⚡ Exam Hall Shortcut / Speed Trick

Multiply P by (R×T)/100 directly: 50000×24÷100=12000, then add to P

⚠️ Common Student Trap / Pitfall

Confusing the interest amount with the total amount payable

📊 Diagram / Illustration

🔢 Step-by-Step Solution

Read the data

The problem gives principal $P = 50000$ , annual rate $R = 8\%$ , and time $T = 3$ years.

P=50000,  R=8%,  T=3P = 50000,\; R = 8\%,\; T = 3P=50000,R=8%,T=3

Calculate simple interest

Apply the simple interest formula $SI = \frac{P \times R \times T}{100}$ to get $SI = \frac{50000 \times 8 \times 3}{100}=12000$ .

SI=P×R×T100SI = \frac{P \times R \times T}{100}SI=100P×R×T​

Find total amount

Add the interest to the principal: $A = P + SI = 50000 + 12000 = 62000$ .

A=P+SI=62000A = P + SI = 62000A=P+SI=62000

✅

C is correct because the total amount equals $62,000$ .

Core Concepts Used

Click any tag to open in AI Tutor

💡 EXAM TIP

The same SI computation appears in profit‑loss and depreciation questions where the rate is given per annum.

Loading discussion...