Multiple choice

Shashi makes a fixed deposit of $Rs. 50000$ in a Bank for $73$ days. If the rate of interest be $6.5\%$ per annum what amount does she get on maturity of $FD$ ?

  1. $Rs.6650$
  2. $Rs.49350$
  3. $Rs.50650$

  4. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Simple interest = (P * R * T) / 100 = (50000 * 6.5 * 73) / (100 * 365) = 500 * 6.5 * (1/5) = 100 * 6.5 = 650. Maturity amount = 50000 + 650 = 50650.

AI explanation

Using the simple interest formula SI = (P * R * T) / 100, the interest earned is (50000 * 6.5 * 73) / (100 * 365), which equals 650. The maturity amount is the principal plus the interest, so 50000 + 650 equals Rs. 50650.

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