wiz-icon
MyQuestionIcon
MyQuestionIcon
5
You visited us 5 times! Enjoying our articles? Unlock Full Access!
Question

Lalit deposited ₹30000 in a bank for one year at an interest rate of 7 p.c. p.a. How much interest will she get at the end of the year?

A
₹2100
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
B
₹2000
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
₹1076
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
₹2106
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is A ₹2100
Let us suppose that the interest on the principal of ₹30000 is x. On principal ₹100, the interest is ₹7.
We shall take the ratio of interest to principal, write it in two forms and obtain an equation.

x30000=7100

x=7100×30000=2100

flag
Suggest Corrections
thumbs-up
1
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Simple and Compound Interest
MATHEMATICS
Watch in App
Join BYJU'S Learning Program
CrossIcon