If a man deposits Rs. 12,100 in a bank at a simple interest of 15% per annum, then how much money will he receive from the bank after 3 years?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. Rs. 17,545.
SI = (P × R × T)/100
= (12100 × 15 × 3)/100
= 5445
Amount = 12100 + 5445 = 17545