Multiple choice

Hemant makes a fixed deposit of $Rs.20000$ in Bank of India for a period of $3\ yr$. If the rate of interest be $13\%$ $SI$ per annum charge half-yearly, what amount will he get after $42$ months?

  1. $Rs.27800$
  2. $Rs.28100$
  3. $Rs.29100$
  4. $Rs.30000$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

For simple interest, the half-yearly charging does not change the annual simple-interest calculation. For 42 months, or 3.5 years, interest is 20000 x 13/100 x 3.5 = Rs. 9100. The amount is Rs. 29100.

AI explanation

Using the simple interest formula, the interest is calculated as (Principal * Rate * Time) / 100, where the time is 42 months (3.5 years) and the rate is 13% per annum, yielding interest of (20000 * 13 * 3.5) / 100 = Rs. 9100. Adding this interest to the principal gives the total amount as 20000 + 9100 = Rs. 29100. Therefore, the amount received is Rs. 29100.

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