How much amount would a person receive if he invests a sum of Rs. 12500 at the rate of 6.5% of simpl

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05 Aug 2019 Simple Interest

How much amount would a person receive if he invests a sum of Rs. 12500 at the rate of 6.5% of simple interest for 12 years in a bank. Please note that bank levies a charge of Rs. 175 on every fixed deposit.

OPtion

1) 22250
2) 22075
3) 21075
4) 20075
5) 22025
6) 22275
7) 22225
8) 21025
9) 20175
10) None of these

Solution

SI = PRT/100 = 12500*12*6.5/100 = 9750

A = 12500 + 9750
= 22250

Amount received = 22250 - 175 = 22075

Correct Option: 2 Best Solution (2)