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

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

Solution:
Here,
p = Tk. 1200
r% = 5%
n = 3 years

Now,
A = p[1 + (nr/100)]
= 1200[1 + (3 × 5)/100]
= 12000 × (115/100)
= 1380

Hence, the amount after 3 years is Tk. 1380