Simple Interest – Find maturity amount: Kriya deposits ₹ 65,800 at a simple interest rate of 14% per annum for 4 years. What total amount will she receive at the end of 4 years?

Difficulty: Easy

Correct Answer: ₹ 102648

Explanation:

Introduction / Context:Find the maturity (amount) under simple interest by adding principal and interest earned over the time period.

Given Data / Assumptions:

  • P = ₹ 65,800
  • r = 14% per annum
  • t = 4 years

Concept / Approach:Interest I = P * r * t. Amount A = P + I.

Step-by-Step Solution:I = 65800 * 0.14 * 4 = 65800 * 0.56 = 36848A = P + I = 65800 + 36848 = 102648

Verification / Alternative check:14% of 65,800 is 9,212 per year; over 4 years → 36,848; add principal to confirm.

Why Other Options Are Wrong:Other totals assume different rates or time.

Common Pitfalls:Using compound interest or rounding yearly interest prematurely.

Final Answer:₹ 102648

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