A man has invested ₹50,500 at a rate of 6% per annum simple interest for 2 years. Find the amount (in ₹) that he will receive after 2 years.

Given:
Principal (P) = ₹50,500
Rate (R) = 6% per annum
Time (T) = 2 years

Simple Interest = $\frac{P \times R \times T}{100}$

= $\frac{50500 \times 6 \times 2}{100}$

= $\frac{50500 \times 12}{100}$

= 50500 × 0.12 = ₹6060

Amount = Principal + Interest
= 50500 + 6060
= ₹56,560

Final Answer:

₹56,560