Question

Nivedita borrowed ₹ 50,000 for an year at the rate of 3.5% per annum. Find the amount accumulated at the end of the year.

• A. ₹55000
• B. ₹51550
• C. ₹52125
• D. ₹51520

Answer 1

The correct option is B ₹51550

Given principal amount = ₹ 50,000
And, interest rate = 3.5 %
Let the interest be $x$
So,
$\frac{x}{50000}=\frac{3.5}{100}$
$\frac{x}{1}=\frac{7\times 500}{2}$
$x=1750$
So, the total amount after a year = principal + interest
= 50000 + 1750
= ₹ 51,750