Question

You deposit Rs. 4000 in a bank account paying $9\%$ simple interest per year. How much interest would you have earned after 4 years? [2 MARKS]

Answer 1

Concept : 0.5 Mark
Application : 0.5 Mark
Calculation : 1 Mark

$S.I=\frac{P\times T\times R}{100}$

$S.I=\frac{4000\times 4\times 9}{100}$

$S.I=Rs.1440.$