# Amount received after depositing ₹800 for a period of 3 years at the rate of 12% per annum is ₹896. State whether the statement is true or false

**Solution:**

Amount received after depositing ₹800 for a period of 3 years at the rate of 12% per annum is ₹896.

We have to determine if the given statement is true or false.

According to the question,

P = ₹800

R = 12%

T = 3 years

I = P×R×T/100

= 800×12×3/100

= 8×12×3

= ₹288

We know, Amount = P + I

= 800 +288

= ₹1088

Therefore, amount is ₹1088

**✦ Try This: **Amount received after depositing ₹900 for a period of 2 years at the rate of 10% per annum is ₹986. State whether the statement is true or false.

**☛ Also Check: **NCERT Solutions for Class 7 Maths Chapter 8

**NCERT Exemplar Class 7 Maths Chapter 7 Problem 77**

## Amount received after depositing ₹800 for a period of 3 years at the rate of 12% per annum is ₹896. State whether the statement is true or false

**Summary:**

The given statement,”Amount received after depositing ₹800 for a period of 3 years at the rate of 12% per annum is ₹896” is false.

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