How Much Amount Harsh will be get After 42 Months?
Answer: (3) Rs.29100
Principal = Rs.20000, Rate = 13 % , Time = 42 months
1 years = 12 months
Therefore, 42 months = 42/12 years
Simple Interest = P x R x T/100
Where, P = principal , R = rate, & T = time.
When interest paid half yearly then, we follow the formula which is given below.
Then, rate will be divide by 2 and time will be multiply by 2 If time is given in yearly.
Then , Simple Interest = 20000 x 13 x 7 /2 x 100
= 10 x 13 x 7
Then, the amount = 20000 + 9100
Hence, the answer is (3) Rs.29100.