The simple interest (int, rounded off to the tens place) on ₹12,300 from 22 May 1993 to 2 August 1993 (both days we included) at the rate of 12% per annum is:
Show answer & explanation
Correct answer: A
Explanation
The correct answer is Option 1 i.e. 300.
Time (T) = 73 days = 1/5 year
SI = (P × R × T)/100
= [12300 × 12 × (1/5)]/100
= 295.20
= 300 (rounded off to the tens place)