Find the simple interest on Rs.74,000 at 
per annum for a period of 8 months?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e Rs.9,208.88
| Understanding | Application |
| We will use the formula of simple interest. |
Simple interest = Principal × rate of return × time / 100 ⇒ P × r × t / 100 ⇒ (74,000 × 56 / 3 × 8 / 12) / 100 ⇒ (74,000 × 56 / 3 × 8 / 12) / 100 ⇒ Rs. 9208.89 |