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Question : What is the maturity value of Rs. 7416 at the end of 3 years at 8.33% simple interest?

Option 1: Rs. 10400

Option 2: Rs. 9270

Option 3: Rs. 9990

Option 4: Rs. 8840


Team Careers360 3rd Jan, 2024
Answer (1)
Team Careers360 18th Jan, 2024

Correct Answer: Rs. 9270


Solution : Given: Principal = Rs. 7416
Time = 3 years
Rate = 8.33%
Simple interest = $\frac{\text{Principal × Rate × Time}}{100}$
= $\frac{7416 × 8.33 × 3}{100}$
= Rs. 1854
Amount = Principal + Simple interest
= 7416 + 1854
= Rs. 9270
Hence, the correct answer is Rs. 9270.

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