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

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

Explanation

1200, Rate of interest (R) = 5%, Time period (T) = 3 years.
To find: Amount after 3 years.
Therefore, the amount after 3 years is Rs. 1380,