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      Question

      A man deposits Rs. 36,000 at a simple interest rate of 25%

      per annum. What will be the total amount after 30 months?
      A Rs.58,500 Correct Answer Incorrect Answer
      B Rs.58,000 Correct Answer Incorrect Answer
      C Rs.48,550 Correct Answer Incorrect Answer
      D Rs.68,500 Correct Answer Incorrect Answer

      Solution

      ATQ,

      Simple interest = (Sum Γ— Rate of Interest Γ— Time in months) Γ· (100 Γ— 12)

      = 36000 Γ— 25 Γ— 30 Γ· (100 Γ— 12)

      = 36000 Γ— 25 Γ— 30 Γ· 1200

      = 22500

      Amount after 30 months = Principal + Interest

      = 36000 + 22500

      = Rs.58,500

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