Question

If a certain sum of money deposited in the bank give simple interest of ₹ 900 in 2 years at the rate of 10 p.c.p.a ,what was the amount of money that is deposited in bank?

• A. Rs 4200
• B. Rs 4500
• C. Rs 4600
• D. Rs 4550

Answer 1

The correct option is B Rs 4500

Given
S.I = ₹ 900
Rate of interest (R)= 10 p.c.p.a
T= 2 years
Using formula for S.I
S.I = $\frac{P\times R\times T}{100}$
900= $\frac{P\times 10\times 2}{100}$
P = $\frac{900\times 100}{20}$
P= ₹ 4500
The amount deposited in bank is ₹ 4500