Question

What will be the simple interest on Rs. 8800 for 9 months at 20/3% per annum?

• A. Rs. 230
• B. Rs. 123
• C. Rs. 560
• D. Rs. 440

Answer 1

Answer:

D. Rs. 440

Solution:

Given:

P = Rs.8800

$R =\frac{20}{3}$%

T = 9 months

Formula Used:

$I = \frac{PRT}{100}$

I = Simple Interest, P = Principal amount,

R = Rate of Interest, T = Time Period

Calculation:

$I =\frac{PRT}{100} =\frac{(8800\times{20}\times{9})}{(100\times{3}\times{12})}$

⇒ $I = 88\times{5} = 440$

∴ Simple Interest is Rs.440