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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