Find the simple interest (in ₹) on ₹2000 at 6.75% per annum rate of interest for the period from 3 February 2023 to 17 April 2023.
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 27
Principal = 2000
Rate = 6.75% per annum
Time = 3 Feb to 17 Apr = 26 + 31 + 17 = 74 days
Time in years = 74 ÷ 365 = 0.2027
Simple Interest = P × R × T ÷ 100
SI = 2000 × 6.75 × 0.2027 ÷ 100
= 27.37