Question 67

Latha deposited an amount of $$₹ 35,000$$ in a bank with simple interest 11% per annum. How much interest will she earn after one year?

Solution

Given,

Principal amount (P) = $$₹ 35,000$$

Rate of Simple interest (R)% = 11%

Time (T) = 1 year

$$\therefore\ $$Simple interest earned by Latha = $$\frac{\text{PTR}}{100}=\frac{35000\times1\times11}{100}=₹ 3,850$$

Hence, the correct answer is Option D

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