Question

Henry has Rs. $1200$ in a savings account that earns $12$% annually. How much will he have in $4$ years?

• A. $276$
• B. $376$
• C. $476$
• D. $576$

Answer 1

The correct option is D $576$

Simple interest, $I=$ $\frac{PRT}{100}$
Where, $P=$ principal $=$ Rs. $1200$
$R=$ rate $=12\%$
$T=$ time period $4$ years
$\Rightarrow I=$ $\frac{1200\times 12\times 4}{100}$
$\Rightarrow I=$ Rs. $576$