Question 147

Find the simple interest on ₹ 4800 at the rate of $$8 \frac{1}{2}$$% per annum for a period of 2 years 3 months.

Solution

Given that P = 4800, T = 2.25, R = 8.5

We know that Simple Interest $$ I = \frac{PTR}{100} $$

Therefore,$$ I = \frac{4800 \times 2.25 \times 8.5}{100} $$

=> $$ I = \frac{91800}{100} = Rs 918/- $$

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