Multiple choice

If Rs. 800 are deposited at a rate of 5% p.a. for 6 years at simple interest, then what will be the amount (in Rs.) after 6 years?

  1. 240

  2. 1,040

  3. 1,400

  4. 1,404

  5. 1,600
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Simple Interest = (P * R * T) / 100 = (800 * 5 * 6) / 100 = 240. Amount = Principal + Interest = 800 + 240 = 1040.

AI explanation

Using the simple interest formula, the interest is calculated as (800 * 5 * 6) / 100, which equals 240. The total amount is the sum of the principal and the simple interest, so the amount is 800 + 240, resulting in 1040.

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