Find the amount after 3 years if the rate of interest is 15% per annum and principal is Rs. 24,000.

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RRB NTPC Exam 27 Jan 2021 click here to view all questions

Find the amount after 3 years if the rate of interest is 15% per annum and principal is Rs. 24,000.

ARs. 30,900

BRs. 32,700

CRs. 36,500

DRs. 34,800

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correct answer is: Rs. 34,800 Explanation: To find the amount after 3 years with a principal of Rs. 24,000 and an annual interest rate of 15%, we can use the simple interest formula: $$A = P + PRT$$ Where: - $P = 24,000$ (principal amount) - $R = 15\% = 0.15$ (annual interest rate) - $T = 3$ years Plugging in the values: $$A = 24,000 + (24,000 \times 0.15 \times 3)$$ $$A = 24,000 + 10,800$$ $$A = 34,800$$ Thus, the amount after 3 years is Rs. 34,800. OPTION a (Rs. 30,900): Too low; doesn't match the calculated amount. OPTION b (Rs. 32,700): Still too low; doesn't match the calculated amount. OPTION c (Rs. 36,500): Too high; likely assumes compound interest, which wasn't specified. OPTION d (Rs. 34,800): Correct; matches the calculated amount using simple interest. Akhilesh ? answered Mar 31 '25 at 22:43

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