Question

You deposit <!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> ₹4000 in a bank account at $9\%$ simple interest per year. How much interest would you have earned after 4 years?

• A. <!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> ₹1540
• B. <!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> ₹1450
• C. <!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> ₹2440
• D. <!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> ₹1440

Answer 1

The correct option is D

<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--> ₹1440

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

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

$S.I=₹1440.$