Question

Mehra invests an amount of Rs. 18000 to obtain a simple interest at the rate of 15%
8. Mehra invests an amount of Rs. 18000 to obtain a simple interest at
p.a. for 6 years. What total amount will Mehra get at the end of 6 years?
1) Rs. 33,500 2) Rs. 35,000 3) Rs. 34,000 4) Rs. 34,200 5) None of these​

Answer 1

Given:

investing value P = Rs. 18000

rate R = 15%

time T = 6 years

To find :

Total amount A =?

Step-by-step explanation:

• The interest on the investing value after a certain time is calculated by a formula :

$\displaystyle S = \frac{P\times R \times T}{100}$

where

S = simple interest

P = principle value

R = rate per year

T = time

• Put the given values in the above equation

       $\displaystyle S = \frac{18000\times 15 \times 6}{100}$

       S = 16200

• The simple interest on the invested valiue is Rs 16200.

• The amount received after 6 years will the invested value along with its interest.

        A = P + S

           = 18000 + 16200

        A = 34200

Hence the amount will Mehra gets at the end of 6 years is Rs. 34200.