Question

Mr. Bhavya Luthra deposits an amount of $Rs.45000$ to obtain a simple interst at the rate of $10\%$ per annum for $3$ yr. What total amount will Mr. Bhavya Luthra get at the end of $3$ yr?

• A. $Rs.56525$
• B. $Rs.57550$
• C. $Rs.58500$
• D. $Rs.59575$

Answer 1

The correct option is C $Rs.58500$

The principal amount $P=45000$

The rate of interest is $R=10\%$

The time period is $T=3y$

The interest is given as $\frac{PRT}{100}$

$⟹I=\frac{45000\times 10\times 3}{100}$

$I=13500$

Amount is given as $A=P+I$

$A=45000+13500=58500$