Multiple choice

How much will Sangita get if she deposits Rs. 37,000 at a simple rate of interest of 4.5% p.a. after two years?

  1. Rs. 40,330

  2. Rs. 3,330

  3. Rs. 39,960

  4. Rs. 2,960
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Interest = (37000 * 4.5 * 2) / 100 = 370 * 9 = 3330. Total amount = 37000 + 3330 = 40330.

AI explanation

Using the simple interest formula, the interest earned is (37000 * 4.5 * 2) / 100, which equals Rs. 3330. Adding this interest to the principal of Rs. 37,000 gives the total maturity amount of Rs. 40,330.

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