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If a sum of Rs 2000 is lent out at 2%...

If a sum of Rs 2000 is lent out at 2% per annum for 10 years under simple interest, then the amount is Rs 1400 (b) Rs 2400 Rs 200 (d) Rs 1500

A

1400

B

2400

C

200

D

1500

Text Solution

Verified by Experts

The correct Answer is:
B
`S.I = (2000 xx 2 xx 10)/(100) = 400`
Amount = 2000 + 400 = Rs. 2400
Hence, the correct option is (b).
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