Multiple choice

If Rs. 10,000 is deposited in a bank for a year and the rate of simple interest is 9.2% p.a, what is the total simple interest at the end of the year?

  1. Rs. 920

  2. Rs. 960

  3. Rs. 4600

  4. Rs. 9200

  5. None of these
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A Correct answer
Explanation

Simple Interest = (Principal * Rate * Time) / 100 = (10000 * 9.2 * 1) / 100 = 920.

AI explanation

Using the simple interest formula, Interest equals Principal multiplied by Rate multiplied by Time divided by 100. Substituting the given values, the interest equals 10000 multiplied by 9.2 multiplied by 1 divided by 100. This calculation gives a total simple interest of Rs. 920.

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