Question

Harsh makes a fixed deposit of \rupee 20,000 in Bank of India for a period of 3 years. If the rate of interest be 13% SI per annum charged half-yearly, what amount will he get after 42 months?

• A. \rupee 27,800
• B. \rupee 28,100
• C. \rupee 29,100
• D. \rupee 30,000

Hint:

For SI problems, convert months to years, and use the basic SI formula. Ignore compounding unless specified.

Answer 1

The Correct Option is C

Simple Interest formula: \( SI = \frac{P \times R \times T}{100} \)
Here, \( P = 20,000 \), \( R = 13% \), \( T = \frac{42}{12} = 3.5 \) years
\[ SI = \frac{20000 \times 13 \times 3.5}{100} = \frac{910000}{100} = 9100 \] \[ \text{Total Amount} = 20000 + 9100 = \boxed{\rupee 29,100} \]