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Question

Anusha invests a sum of ₹ 5,000 in a fund giving 10 % p.a rate of interest. Find the interest earned by her at the end of 10 years.

A
₹ 5,000
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B
₹ 2,000
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C
₹ 6,000
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D
₹ 4,000
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Solution

The correct option is A ₹ 5,000
Given, time = 10 years.
The sum invested = ₹ 5,000.
Rate of interest = 10 % p.a.

The Simple Interest earned on a sum of ₹ P for a period of T years at the rate of R% p.a S.I is given by P× R× T100.

So, Interest earned = 5,000× 10× 10100= 5,000

So, the interest earned after 10 years = ₹ 5,000.

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