Question

Suresh wishes to earn a monthly interest of Rs.600. The interest rate is 12 percent per annum but it is paid every month. He must invest -

• A. Rs.80,000
• B. Rs.60,000
• C. Rs.90,000
• D. Rs.1,20,000.

Answer 1

The correct option is B Rs.60,000

Let seem to be inverted $=x$.

Interest for every month $=Rs$ $600$.

$n=1$ month

$\therefore T=\frac{n}{12}$ year

$=\frac{1}{12}$ year.

$R=12$%

$\therefore S.I=\frac{PTR}{100}$

$\Rightarrow 600=x\times \frac{1}{12}\times \frac{12}{100}$

$\Rightarrow x=(600\times 100)$

$=60000$

$\therefore$ Suresh must invert $Rs$ $60,000$.