Multiple choice

Calculate the amount earned on Rs. 960 at a simple interest rate of 1.2% p.a. for 1.2 years.

  1. Rs. 1399.824

  2. Rs. 973.824

  3. Rs. 983.424

  4. Rs. 1234.833
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

I = (P*R*T)/100 = (960 * 1.2 * 1.2) / 100 = (960 * 1.44) / 100 = 1382.4 / 100 = 13.824. Total amount = 960 + 13.824 = 973.824.

AI explanation

Using the simple interest formula, Simple Interest equals Principal multiplied by Rate multiplied by Time divided by 100, the interest is 960 multiplied by 1.2 multiplied by 1.2 divided by 100, which equals Rs. 13.824. The total amount earned is the principal plus the interest, so 960 plus 13.824 equals 973.824. The result is Rs. 973.824.

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