Question

Find the interest and the amount, respectively on Rs. $4,000$ in $1\frac{1}{3}$ years at $2$ percent per month.

• A. Rs. $1,152$ and Rs. $3,110$
• B. Rs. $1,364$ and Rs. $4,570$
• C. Rs. $1,280$ and Rs. $5,280$
• D. Rs. $970$ and Rs. $3,212$

Answer 1

The correct option is C Rs. $1,280$ and Rs. $5,280$

Simple Interest $I=\frac{PNR}{100}$
Given, $P=$ Rs. $4,000$, $N=1\frac{1}{3}=\frac{4}{3}$ and $R=2$ $\%$ per month $=24$ $\%$ per annum
So, $I=\frac{4000\times \frac{4}{3}\times 24}{100}=$ Rs. $1,280$
Amount $=P+I=$ Rs. $4,000+$ Rs. $1,280=$ Rs. $5,280$