State true (T) or false (F).

The amount of money in the account of Varun at the end of every year when Rs 1000 is deposited at a simple interest of 10% per annum. The following situation forms an AP.

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True

False

answer is A.

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Detailed Solution

Given the amount of money at the year end = Rs 1000 and interest rate = 10% p.a.
The series of numbers form an A.P., if the difference between two consecutive terms is the same.
So, according to the question, the simple interest can be calculated as,

Simple interest = Principal × Rate × Time 100 ⇒ 1000 × 10 × 1 100 ⇒ 100

Hence, the amount of money at the end of every year is 1000, 1000+100, 1000+2(100),

1000 + 3100, ...

, i.e., 1000, 1100, 1200, 1300, ....

d = 1100 − 1000 d = 100

This forms an AP as the common difference is the same.
Therefore, the statement, “The amount of money in the account of Varun at the end of every year when Rs 1000 is deposited at a simple interest of 10% per annum” is proved to be true.
Correct option is 1.

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