How much simple interest will ₹6,000 earn in 21 months at 8% per annum?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. ₹840
Given that
The principal amount = ₹6,000
Time = 21 months = 21/12 years
Rate = 8% per annum
Formula used
S.I. = PRT/100
where, P = principal, R = rate of interest, T= time
Calculation
S.I. = 6000 × 8 × (21/12)/100 = ₹840