Question 21

What is the simple interest on Rs 7200 in 7 years at the rate of 14% per annum?

Solution

Principal sum = Rs. 7200

Rate of interest = 14% and time period = 7 years

Simple interest = $$\frac{P\times R\times T}{100}$$

= $$\frac{7200\times14\times7}{100}$$

= $$72\times98=Rs.$$ $$7056$$

=> Ans - (C)

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