Find the amount to be received after 2 years 6 months at the rate of 5% p.a. of simple interest on a sum of Rs. 3200.
A. Rs. 3800 B. Rs. 3500 C. Rs. 3600 D. Rs. 3900 Answer: Option CShow Answer
Solution(By Apex Team)
$\begin{array}{l}\text{ Rate of interest }=5\%\text{ p.a. }\\
\text{ sum }=\text{ Rs. }3200\\
\begin{aligned}\text{ Time }&=2\text{ years }6\text{ months }\\
&=2\frac{1}{2}\text{ years }\\
&=\frac{5}{2}\text{ years }\\
\text{ S.I. }=&\frac{\text{ Prinicipal }\times\text{ Time }\times\text{ Rate }}{100}\\
=&\frac{3200\times5\times5}{2\times100}\\
=&\text{ Rs. }400\\
\therefore\text{ Amount }&=\text{ Rs. sum }+\text{ S.I. }\\
&=(3200+400)\\
&=\text{ Rs. }3600\end{aligned}\end{array}$
