Mathematics for FinanceMTP Dec 23 Series IQuestion 1391 of 512
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Sachin deposited Rs.1,00,000\displaystyle 1,00,000 in his bank for 2\displaystyle 2 years at simple interest of 6%\displaystyle 6\%. How much interest would he earns? How much final value of deposit

Options

ARs.6,000\displaystyle 6,000, Rs.1,06,000\displaystyle 1,06,000
BRs.10,000\displaystyle 10,000, Rs.1,15,000\displaystyle 1,15,000
CRs.11,600\displaystyle 11,600, Rs.1,11,600\displaystyle 1,11,600
DRs.1200\displaystyle 1200, Rs.1,12,000\displaystyle 1,12,000
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Correct Answer

✅ Option d — Rs.1200\displaystyle 1200, Rs.1,12,000\displaystyle 1,12,000

All Options:

  • ARs.6,000\displaystyle 6,000, Rs.1,06,000\displaystyle 1,06,000
  • BRs.10,000\displaystyle 10,000, Rs.1,15,000\displaystyle 1,15,000
  • CRs.11,600\displaystyle 11,600, Rs.1,11,600\displaystyle 1,11,600
  • DRs.1200\displaystyle 1200, Rs.1,12,000\displaystyle 1,12,000

Detailed Solution & Explanation

**Derivation of Simple Interest and Future Value** Given: - Principal (P\displaystyle P) = Rs. 1,00,000\displaystyle \text{Rs. }1,00,000 - Rate (R\displaystyle R) = 6%\displaystyle 6\% per annum simple interest - Time (t\displaystyle t) = 2\displaystyle 2 years **Step 1: Calculate Simple Interest (SI\displaystyle SI)** SI=P×R×t100SI = \frac{P \times R \times t}{100} SI=100000×6×2100=Rs. 12,000SI = \frac{100000 \times 6 \times 2}{100} = \text{Rs. }12,000 **Step 2: Calculate the Final Amount (A\displaystyle A)** A=P+SI=100000+12000=Rs. 1,12,000A = P + SI = 100000 + 12000 = \text{Rs. }1,12,000 *(Note: Option D contains a typo in the interest part, listing Rs. 1,200 instead of Rs. 12,000. However, the final value of Rs. 1,12,000 uniquely identifies Option D as the correct choice.)* Hence, **Option D** is the correct answer.

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