What amount does Kiran get if he invests Rs. 16000 at 15% p.a. simple interest for four years?\nOptions:\n(A) Rs. 25800\n(B) Rs. 15600\n(C) Rs. 21600\n(D) Rs. 24800\n(E) Rs. 25600
Let’s work this out in a step by step way to be sure we have the right answer.
(E)
Simple interest = (16000 * 4 * 15)/100 = Rs.

9600\nAmount = P + I = 16000 + 9600 = Rs.

25600.

So, the final answer is (E)