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Find the amount to be received after 2 years 6 months at the rate of 5% p.a. of simple interest on a sum of Rs. 3200.

A. Rs. 3800 B. Rs. 3500 C. Rs. 3600 D. Rs. 3900 Answer: Option C
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Solution(By Apex Team)

$\begin{array}{l}\text{ Rate of interest }=5\%\text{ p.a. }\\ \text{ sum }=\text{ Rs. }3200\\ \begin{aligned}\text{ Time }&=2\text{ years }6\text{ months }\\ &=2\frac{1}{2}\text{ years }\\ &=\frac{5}{2}\text{ years }\\ \text{ S.I. }=&\frac{\text{ Prinicipal }\times\text{ Time }\times\text{ Rate }}{100}\\ =&\frac{3200\times5\times5}{2\times100}\\ =&\text{ Rs. }400\\ \therefore\text{ Amount }&=\text{ Rs. sum }+\text{ S.I. }\\ &=(3200+400)\\ &=\text{ Rs. }3600\end{aligned}\end{array}$