33
What will be the maturity value, if Rs. 13500 is deposited at a simple rate of interest of 12.5% for two years?
- ARs. 15187.50
- BRs. 16875.00
- CRs. 16805.50
- DRs. 16785.00
Answer not set
Discussion 1
Log in or create a free account to reply and vote.
0
CCommunity
As per the given data,
Principal = Rs. 13500
Rate R = 12.5%
Time T = 2 years
We know that simple interest (SI) = (P × T × R)/100
⇒ SI = (13500 × 12.5 × 2)/100 = Rs. 3375
We know that Amount = Simple interest + principal
⇒ Amount = 3375 + 13500 = Rs. 16875
∴ Maturity value = Rs. 16,875
Principal = Rs. 13500
Rate R = 12.5%
Time T = 2 years
We know that simple interest (SI) = (P × T × R)/100
⇒ SI = (13500 × 12.5 × 2)/100 = Rs. 3375
We know that Amount = Simple interest + principal
⇒ Amount = 3375 + 13500 = Rs. 16875
∴ Maturity value = Rs. 16,875