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Simple Interest

Mr. S deposit...

Question

Mr. S deposited Rs. $1, 00, 000$ in his bank for $2$ years at simple interest rate of $6 %$ . How much would be the final value of deposit?

12, 000

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1, 12, 000

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1, 10, 000

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1, 02, 000

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Solution

The correct option is C $1, 12, 000$
$I n t e r e s t = \frac{100000 \times 2 \times 6}{100} = 12000$
Final value of deposit $= 100000 + 12000 = 112000$

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