Question

Ted’s dad had deposited Rs. 10,000 with a bank for 2 years at an interest rate of 9%. How much simple interest will he get after 2 years?

• A. Rs. 1180
• B. Rs.1800
• C. Rs.11800
• D. Rs.1200

Answer 1

The correct option is B

Rs.1800

Interest = $\frac{\text{Amount Deposited}\times \text{Interest Rate}\times \text{Time Period}}{100}$

Interest after 2 years = $\frac{10,000\times 9\times 2}{100}$

= Rs. 1800