What will be the simple interest on Rs. 1300 at 6% per annum for 4 years?
Show answer & explanation
Correct answer: C
Explanation
Given:
Principal = ₹1300
Interest rate = 6% per annum
Time = 4 years
Formula:
Simple interest = (P × R × T) / 100
Simple interest = (1300 × 6 × 4) / 100 = ₹312