If $2,000 is invested at an annual simple interest rate of 5% for 4 years, what is the total amount accumulated?
ZTBL OG III Past Papers and Syllabus / All — Multiple-choice practice
اگر 2,000$ کو 4 سال کے لیے %5 کی سالانہ سادہ سود کی شرح پر لگایا جاتا ہے، تو جمع ہونے والی کل رقم کیا ہے؟
- A. $2,400
- B. $2,600
- C. $2,800
- D. $2,200
Correct answer
$2,400
Explanation
Explanation Using the formula for simple interest , I = P x R x T, where P = $2,000, R = 5% = 0.05, and T = 4 years, we get: I = $2,000 x 0.05 x 4 = $400 Adding the interest to the principal, we get: $2,000 + $400 = $2,400 So, the total amount accumulated is $2,400.
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