Correct Answer - Option 3 : Rs. 18,900
Given
Principal = Rs.15,000, Rate = 6.5%, Time = 4 years
Formula used
Amount = Principal + Simple interest
Simple interest = (Principal × Rate × Time)/100
Calculation
Simple interest = (15,000 × 6.5 × 4)/100
⇒ 3900
Amount = 15,000 + 3900
⇒ Rs.18,900
∴ The amount will be Rs. 18,900.