A sum of Rs 28500 is lent out at 6.4% per annum simple interest for 10 years. What will be the amount after 10 years?
Answer & explanation
Correct answer: option 2
Simple Interest = $\frac{P \times R \times T}{100}$
= $\frac{28500 \times 6.4 \times 10}{100}$
= 18240
Amount = Principal + SI
= 28500 + 18240
= Rs 46740