Multiple choice

Rs. 11,340 is the simple interest generated when a certain amount of money is lent at the rate of 9% per annum for 6 years. Find the amount that will be paid after 6 years.

  1. Rs. 30,500

  2. Rs. 32,340

  3. Rs. 32,800

  4. Rs. 32,845

  5. Rs. 33,945
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Simple Interest (SI) = (P * R * T) / 100. Given SI = 11340, R = 9, T = 6. So, 11340 = (P * 9 * 6) / 100, which gives P = 1134000 / 54 = 21000. The total amount paid is Principal + Interest = 21000 + 11340 = 32340.

AI explanation

First, find the principal using the simple interest formula rearranged to Principal = (Simple Interest * 100) / (Rate * Time). Substituting the given values, Principal = (11340 * 100) / (9 * 6), which simplifies to 11340 / 0.54 = 21000. The total amount to be paid after 6 years is the sum of the principal and the simple interest earned. Therefore, Total Amount = 21000 + 11340 = 32340. The result is Rs. 32,340.

Keep practicing — related questions