Find the simple interest (in ₹) on ₹2000 at 6.5% per annum rate of interest for the period from 13 February 2023 to 27 April 2023
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 26.
13 February 2023 to 27 April 2023 = 73 days
Principal amount (P) = ₹2000
Rate of interest per annum (R) = 6.5%
Time (T) = 73/365 years = 0.2 years
Simple interest = (P × R × T)/100 = (2000 × 6.5 × 0.2)/100 = ₹26
Therefore, the simple interest is ₹26.