Correct Answer - Option 3 : Rs. 2058
Given:
R = 10%
P = Rs. 9800
N = 2
Formula used:
A = P × (1 + (R/ 100))N
A = P + I
Where, P = Principal amount, R = Rate of interest, N = number of years and I = Simple interest
Calculation:
A = 9800 × (1 + (10/ 100))2
⇒ A = 9800 × 11 × 11/ 100
⇒ A = 98 × 121
⇒ A = 11858
I = 11858 – 9800
⇒ I = Rs. 2058
∴ required answer is Rs. 2058