Find the interest accrued on a sum of Rs. 1,680 in two years, at the rate of 4.375% simple interest per annum.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Rs. 147.
SI = (P × R × T)/100
= (1680 × 4.375 × 2)/100
= 147