Multiple choice

Find the interest and the amount, respectively on Rs. $4,000$ in $1\,\dfrac{1}{3}$ years at $2$ percent per month.

  1. Rs. $1,152$ and Rs. $3,110$
  2. Rs. $1,364$ and Rs. $4,570$
  3. Rs. $1,280$ and Rs. $ 5,280$
  4. Rs. $970$ and Rs. $3,212$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Principal = 4000, Rate = 2% per month = 24% per year. Time = 4/3 years. Simple Interest = (4000 * 24 * 4/3) / 100 = 1280. Amount = 4000 + 1280 = 5280.

AI explanation

Convert the time of 1 and one-third years into months, yielding 16 months. Using the simple interest formula with a rate of 2% per month, the interest equals 4000 times 2 times 16 divided by 100, which is Rs. 1,280. The total amount is found by adding the principal to the interest, giving 4000 plus 1280, which equals Rs. 5,280.

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