Latha deposited an amount of Rs 35.000 in a bank with simple interest 11% per annum. How much interest wili she earn after one year?

Options

A. Rs 3,370
B. Rs 3,850
C. Rs 3,220
D. Rs 3,500

Answer

To find out how much interest Latha will earn after one year on her deposit of Rs 35,000 at a simple interest rate of 11% per annum, we can use the formula for simple interest:

**Simple Interest (SI) = (Principal × Rate × Time) / 100**

Where:
- Principal (P) = Rs 35,000
- Rate (R) = 11%
- Time (T) = 1 year

Now, let's substitute the values into the formula:

1. **Identify the values:**
- Principal (P) = 35,000
- Rate (R) = 11
- Time (T) = 1

2. **Substitute the values into the formula:**
\[ SI = \frac{P \times R \times T}{100} \]
\[ SI = \frac{35,000 \times 11 \times 1}{100} \]

3. **Calculate the multiplication:**
\[ SI = \frac{35,000 \times 11}{100} \]
\[ SI = \frac{385,000}{100} \]

4. **Divide to find the simple interest:**
\[ SI = 3,850 \]

Thus, the interest Latha will earn after one year is **Rs 3,850**.