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    Question

    Sohan invested Rs. 11,600 at a simple interest rate of 7.5%

    per annum for 3.5 years. What will be the total amount he receives after the period?
    A Rs.15,350 Correct Answer Incorrect Answer
    B Rs.14,645 Correct Answer Incorrect Answer
    C Rs.10,150 Correct Answer Incorrect Answer
    D Rs.18,100 Correct Answer Incorrect Answer

    Solution

    ATQ,

    Simple interest = Principal × Rate × Time ÷ 100

    Interest earned = 11,600 × 7.5 × 3.5 ÷ 100 = Rs. 3,045

    Required amount = 11,600 + 3,045 = Rs. 14,645

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