If a sum of ₹2000 is lent out at 2% per annum for 10 years under simple interest, then the amount is

(a) ₹1400
(b) ₹2400
(c) ₹200
(d) ₹1500

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Solution

It is given that,
Sum (P) = ₹2000
Rate (R) = 2%
Time (T) = 10 years

$I = \frac{P \times R \times T}{100} = \frac{2000 \times 2 \times 10}{100} = 400$

Amount = I + P = ₹400 + ₹2000 = ₹2400

Hence, the correct option is (b).

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If a sum of ₹2000 is lent out at 2% per annum for 10 years under simple interest, then the amount is (a) ₹1400 (b) ₹2400 (c) ₹200 (d) ₹1500

It is given that, Sum (P) = ₹2000 Rate (R) = 2% Time (T) = 10 years I=P×R×T100 =2000×2×10100 =400 Amount = I + P = ₹400 + ₹2000 = ₹2400 Hence, the correct option is (b).

If a sum of ₹2000 is lent out at 2% per annum for 10 years under simple interest, then the amount is

(a) ₹1400
(b) ₹2400
(c) ₹200
(d) ₹1500

It is given that,
Sum (P) = ₹2000
Rate (R) = 2%
Time (T) = 10 years

$I = \frac{P \times R \times T}{100} = \frac{2000 \times 2 \times 10}{100} = 400$

Amount = I + P = ₹400 + ₹2000 = ₹2400

Hence, the correct option is (b).