Multiple choice

What is the amount obtained on Rs. 28,000 on simple interest at the rate of 3% p.a. for 2 years?

  1. Rs. 29,680

  2. Rs. 28,680

  3. Rs. 20,680

  4. Rs. 28,780
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Simple Interest = (P * R * T) / 100 = (28000 * 3 * 2) / 100 = 1680. Total Amount = Principal + Interest = 28000 + 1680 = 29680.

AI explanation

Using the simple interest formula, the interest is calculated as Principal times Rate times Time divided by 100, which is 28000 times 3 times 2 divided by 100, yielding 1680. The total amount obtained is the sum of the principal and the interest, so 28000 plus 1680 equals 29680.

Keep practicing — related questions