Multiple choice

What interest will obtain on Rs. 4600 in 5 years at 4.5% annual rate of simple interest?

  1. Rs. 1020

  2. Rs. 1045

  3. Rs. 1035

  4. Rs. 1025
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Simple Interest = Principal × Rate × Time / 100 = 4600 × 4.5 × 5 / 100 = 4600 × 22.5 / 100 = 46 × 22.5 = 1035. The calculation: 4600 × 0.045 × 5 = 207 × 5 = 1035. Option C is correct.

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