Find the simple interest on ₹24,000 at 18% per annum for a period of 7 months.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. ₹2,520.
SI = (P × R × T)/100
SI = (24000 × 18 × 7/12) = (24000 × 18 × 7)/12 × 100 = 3024000/1200 = 2520