Abdul Hameed invested a principal amount of Rs. 200,000 at the simple interest rate of 5% per year. After two years, Abdul Hameed will have ______?
IBA STS Screening Test Bps 05 to 15 Past Papers and Syllabus / All — Multiple-choice practice
- A. Rs. 202,000
- B. Rs. 220,000
- C. None of these
- D. Rs. 202,200
Correct answer
Rs. 220,000
Explanation
Explanation Principal = 200,000 Rate = 5% per year Time = 2 years Simple Interest = (P × R × T)/100 = (200,000 × 5 × 2)/100 = 20,000 Total Amount = Principal + Interest = 200,000 + 20,000 = 220,000 Last verified on 09-02-2026
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