What is the simple interest on Rs. 8,000 at the yearly rate of interest of 5% for years?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. Rs. 1,400.
Time (T) = 7/2 years
SI = (P × R × T)/100
= [8000 × 5 × (7/2)]/100
= 1400