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Answer :
Final answer:
Dina will receive ₹9072.50 after 3 and 1/2 years. Therefore, the correct answer is D) ₹8900.
Explanation:
To find the amount Dina will receive after 3 and 1/2 years, we need to calculate the simple interest using the formula:
Simple Interest = Principal × Rate × Time
In this case, the principal (P) is ₹7000, the rate (R) is 8.5% (or 0.085 as a decimal), and the time (T) is 3.5 years.
Using the formula, we can calculate the simple interest:
Simple Interest = ₹7000 × 0.085 × 3.5 = ₹2072.50
The amount Dina will receive after 3 and 1/2 years is the sum of the principal and the simple interest:
Amount = Principal + Simple Interest = ₹7000 + ₹2072.50 = ₹9072.50
Therefore, the correct answer is D) ₹8900.
Learn more about Calculation of simple interest here:
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