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Asked in PPSC, FPSC and other one-paper exams (compiled from unofficial resources).

Financial MathematicsSimple and Compound Interest

Rs. 1200 is lent out at 5% per annum simple interest for 3 years. Find the amount after 3 years.

A.Rs. 1320
B.Rs. 1260
C.Rs. 1440
D.Rs. 1380Correct answer

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Quick fact: The amount after 3 years is Rs. 1380.

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