Multiple choice

Ms. Sanjna deposits an amount of Rs.41,700 to obtain a simple interest at the rate of 12 p.c.p.a. for 6 years. What total amount will Ms. Sanjna get at the end of 6 years?

  1. 66472

  2. 30024

  3. 74894

  4. 71724

  5. None

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Simple interest is calculated as (Principal * Rate * Time) / 100. Here, (41700 * 12 * 6) / 100 = 30024. The total amount is Principal + Interest, which is 41700 + 30024 = 71724.

AI explanation

Using the simple interest formula, the interest is 41700 times 12 times 6 divided by 100, which equals 30024. The total amount received at the end of 6 years is the principal plus the interest, so 41700 plus 30024 equals 71724.