What would be the simple interest (in ₹) on the principal amount of ₹ 1 lakh for 2 years at the rate of 12 percent per annum?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. Rs. 24000.
SI = (P × R × T)/100
= (100000 × 12 × 2)/100
= 24000