How much will sangita get, if she deposits Rs. 37, 000 at a simple rate of interest of 4.5% p.a. after two years?

Options

A. Rs. 40330
B. Rs. 3330
C. Rs. 39960
D. Rs. 2960

Answer

To find out how much Sangeeta will get after depositing Rs. 37,000 at a simple rate of interest of 4.5% per annum for 2 years, we can follow these steps:

### Step 1: Understand the formula for Simple Interest
The formula for calculating Simple Interest (SI) is:
\[ SI = \frac{P \times R \times T}{100} \]
Where:
- \( P \) = Principal amount (the initial amount of money)
- \( R \) = Rate of interest per annum
- \( T \) = Time (in years)

### Step 2: Identify the values from the question
From the question:
- \( P = 37,000 \) (the principal amount)
- \( R = 4.5 \) (the rate of interest per annum)
- \( T = 2 \) (the time in years)

### Step 3: Substitute the values into the formula
Now, we substitute the identified values into the Simple Interest formula:
\[ SI = \frac{37000 \times 4.5 \times 2}{100} \]

### Step 4: Calculate the Simple Interest
Now, let's perform the calculation step by step:
1. Calculate \( 37000 \times 4.5 = 166500 \)
2. Multiply the result by \( 2 \): \( 166500 \times 2 = 333000 \)
3. Finally, divide by \( 100 \): \( \frac{333000}{100} = 3330 \)

So, the Simple Interest (SI) earned after 2 years is Rs. 3330.

### Step 5: Calculate the Total Amount
To find out how much Sangeeta will get in total after 2 years, we add the Simple Interest to the principal amount:
\[ \text{Total Amount} = P + SI = 37000 + 3330 = 40330 \]

Thus, Sangeeta will get Rs. 40,330 after 2 years.

### Summary of the Solution:
- Sangeeta deposits Rs. 37,000.
- She earns Rs. 3,330 as interest after 2 years.
- The total amount she will receive is Rs. 40,330.