Question

Rishabh has a recurring deposit account in a post office for $3$ years at $10\%$ simple interest. If he gets $Rs9,990$ as interest at the time of maturity. Find the amount of maturity.

• A. $33,300$
• B. $33,000$
• C. $33,333$
• D. None of the above

Answer 1

The correct option is A $33,300$

$\Rightarrow$ We have, $S.I=9,990;R=10\%;T=3years$.

$\Rightarrow$ $SimpleInterest=\frac{P\times R\times T}{100}$

$\Rightarrow$ $9,990=\frac{P\times 10\times 3}{100}$

$\Rightarrow$ $P=9,990\times 10\times \frac{1}{3}$

$\Rightarrow$ $P=\frac{99,900}{3}$

$\Rightarrow$ $P=Rs.33,300$

$\therefore$ The amount of maturity is $Rs.33,300$.