Questions & Answers

Question

Answers

A. Rs. 15,840

B. Rs. 15,960

C. Rs. 16,080

D. Rs. 16,140

Answer
Verified

Hint: Use the formula $I=p\times r\times t$ to find the total interest. The maturity value would be the sum of money deposited + the interest.

Complete step by step answer:

Given, money deposited (invested) = Rs. 15,000 which is the principle.

Number of days = 219.

Rate of simple interest = 12% per annum.

We find the simple interest by the formula:

Simple interest = principal x rate x time

Since the rate of S.I is given per annum, i.e. per year, we convert days into year.

$\begin{align}

& \therefore \text{ simple interest =}15000\times \dfrac{12}{100}\times \dfrac{219}{365} \\

& =Rs.1,080 \\

\end{align}$

$\therefore $maturity value = simple interest + principal

= Rs. (1,080 + 15,000)

= Rs. 16,080

Therefore, the answer is option (C) Rs. 16,080.

Note: Since the rate of simple interest is given per annum, make sure to convert days into years.

$S.I.=p\times r\times t$.Also date is just given for the reference,don't get confused because of that.

Complete step by step answer:

Given, money deposited (invested) = Rs. 15,000 which is the principle.

Number of days = 219.

Rate of simple interest = 12% per annum.

We find the simple interest by the formula:

Simple interest = principal x rate x time

Since the rate of S.I is given per annum, i.e. per year, we convert days into year.

$\begin{align}

& \therefore \text{ simple interest =}15000\times \dfrac{12}{100}\times \dfrac{219}{365} \\

& =Rs.1,080 \\

\end{align}$

$\therefore $maturity value = simple interest + principal

= Rs. (1,080 + 15,000)

= Rs. 16,080

Therefore, the answer is option (C) Rs. 16,080.

Note: Since the rate of simple interest is given per annum, make sure to convert days into years.

$S.I.=p\times r\times t$.Also date is just given for the reference,don't get confused because of that.

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