What will be the simple interest on a principal of Rs. 2400 for 6 years at the rate of 8 percent per annum?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. Rs. 1152.
Principal (P) = 2400
Time (T) = 6 years
Rate (R) = 8%
Simple interest = PRT/100
According to the question;
⇒ Simple interest = (2400 × 6 × 8)/100
⇒ Rs 1152