A principal of ₹40,000 is deposited in a bank which offers a simple interest at the rate of 10% per annum. Calculate the amount at the end of 2 years.

₹38000

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₹44000

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₹48000

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₹40000

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Solution

The correct option is C
₹48000

Given: Principal, P = ₹40,000
Time period, T = 2 years
Rate of interest, R = 10% p.a

Simple interest, SI = $\frac{P \times R \times T}{100}$
= $\frac{40000 \times 10 \times 2}{100}$ = ₹8000

Amount at the end of two years
= Principal + SI = ₹48000

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A principal of ₹40,000 is deposited in a bank which offers a simple interest at the rate of 10% per annum. Calculate the amount at the end of 2 years.

The correct option is C ₹48000 Given: Principal, P = ₹40,000 Time period, T = 2 years Rate of interest, R = 10% p.a Simple interest, SI = P×R×T100 = 40000×10×2100 = ₹8000 Amount at the end of two years = Principal + SI = ₹48000

The correct option is C
₹48000

Given: Principal, P = ₹40,000
Time period, T = 2 years
Rate of interest, R = 10% p.a

Simple interest, SI = $\frac{P \times R \times T}{100}$
= $\frac{40000 \times 10 \times 2}{100}$ = ₹8000

Amount at the end of two years
= Principal + SI = ₹48000