Multiple choice

Rs. 2,300 are invested for 3 years in a scheme of simple interest at a rate of 12% per annum. What is the amount obtained (in Rs.) after 3 years?

  1. 3,128

  2. 3,456

  3. 3,724

  4. 2,950
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A Correct answer
Explanation

Simple Interest = (P * R * T) / 100 = (2300 * 12 * 3) / 100 = 23 * 36 = 828. Total Amount = 2300 + 828 = 3128.

AI explanation

Using the simple interest formula, Interest equals Principal multiplied by Rate multiplied by Time divided by 100, the interest is 2300 multiplied by 12 multiplied by 3 divided by 100, which equals 828. The total amount obtained is the sum of the principal and the interest, so 2300 plus 828 equals Rs. 3128.

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