Mohan invested ₹1,320 at 6% per annum simple interest in a bank. What amount (in ₹) will he get after 6 years?

Correct option is B

Given:

Principal P = ₹1320

Rate R = 6% per annum

Time T = 6 years

Formula Used:

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

Total amount, A = P + SI

Solution:

SI = $$\frac{1320 \times 6 \times 6}{100}$$​​

​$$= \frac{47520}{100}$$​​

= ₹475.20

Amount = 1320 + 475.20 = ₹1795.20