Asked in PPSC, FPSC and other one-paper exams (compiled from unofficial resources).
Financial MathematicsSimple and Compound Interest
A man lends $60{,}000$ at simple interest at the rate of $9\%$ per year. What is the total amount (principal + interest) he receives after $3$ years?
- A.$72{,}000$
- B.$76{,}200$Correct answer
- C.$78{,}600$
- D.$81{,}000$
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Practice these MCQs in the appQuick fact: The total amount after 3 years is $76{,}200$.