A man has invested ₹50,000 at a rate of 12% per annum simple interest for 4 years. Find the amount (in ₹) that he will receive after 4 years.​

Correct option is B

Given:

Principal P = ₹50,000

Rate of interest R = 12% per annum

Time T = 4 years

Formula Used:

Simple Interest Formula:

SI = $$\frac{P \times R \times T}{100}$$​​

Amount A = P + SI

Solution:

SI = $$\frac{50,000 \times 12 \times 4}{100}$$​​

$$= \frac{2,400,000}{100}$$​ = ₹24,000

Now, Total amount:

A = 50,000 + 24,000 = ₹74,000