A principle of ₹ 20,000 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.

₹ 44000

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₹ 24000

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₹ 56000

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₹ 42000

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Solution

The correct option is B
₹ 24000

Given P = ₹ 20,000, T = 2 years, R = 10% p.a

SI = $\frac{P r i n c i p a l \times t i m e \times r a t e}{100}$ = $\frac{20000 \times 2 \times 10}{100}$ = ₹ 4000.

Amount at the end of two years = Principal + SI = ₹ 24000.

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A principle of ₹ 20,000 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 B ₹ 24000 Given P = ₹ 20,000, T = 2 years, R = 10% p.a SI = Principal×time×rate100 = 20000×2×10100 = ₹ 4000. Amount at the end of two years = Principal + SI = ₹ 24000.

The correct option is B
₹ 24000

Given P = ₹ 20,000, T = 2 years, R = 10% p.a

SI = $\frac{P r i n c i p a l \times t i m e \times r a t e}{100}$ = $\frac{20000 \times 2 \times 10}{100}$ = ₹ 4000.

Amount at the end of two years = Principal + SI = ₹ 24000.