If you deposit Rs. 110 in a bank at a simple interest of 12% per year, how…
2025
If you deposit Rs. 110 in a bank at a simple interest of 12% per year, how much money will you have in the bank after 2 years?
- A.
134
- B.
136.4
- C.
26.4
- D.
24
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Show answer & explanation
Correct answer: B
Simple interest formula: I = P × r × t.
Values: P = 110, r = 12% = 0.12, t = 2 years
Compute interest: I = 110 × 0.12 × 2 = 26.4.
Total amount = Principal + Interest = 110 + 26.4 = 136.4.
Final answer: 136.4