Harsha makes a fixed deposit of ₹ 20000 in Bank of

Home » Aptitude » Simple interest » Question

Harsha makes a fixed deposit of ₹ 20000 in Bank of India for a period of 3 yr. If the rate of interest be 13% SI per annum charged half - yearly, what amount will he get after 42 months ?

1. ₹ 27800
2. ₹ 28100
3. ₹ 29100
4. ₹ 30000

Correct Option: C

Give, time = 42 months.
= (42/12) yr = 3¹/₂ yr
= 7 half - yr,
rate = 13/2% half - yearly

SI = (20000 x 13 x 7)/(100 x 2) = ₹ 9100
∴ Amount (A) = 20000 + 9100
= ₹ 29100