Question : How much simple interest (in INR) will INR 6,000 earn in 21 months at 8% per annum?
Option 1: 750
Option 2: 880
Option 3: 620
Option 4: 840

Question

Question : How much simple interest (in INR) will INR 6,000 earn in 21 months at 8% per annum?

Option 1: 750

Option 2: 880

Option 3: 620

Option 4: 840

Team Careers360 · Accepted Answer

Correct Answer: 840

Solution : Principal, $P$ = INR $6000$
Time of investment, $T$ = $21 ext{ months} = \frac{21}{12}$ years
Rate of interest, $R$ = 8% per annum
Simple interest = $\frac{ ext{Principal × Rate × Time}}{100}$
⇒ Simple interest = $\frac{6000 imes 8 imes \frac{21}{12}}{100}$ = INR $840$
Hence, the correct answer is 840.

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Question : How much simple interest (in INR) will INR 6,000 earn in 21 months at 8% per annum?Option 1: 750Option 2: 880Option 3: 620Option 4: 840

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Question : How much simple interest (in INR) will INR 6,000 earn in 21 months at 8% per annum?
Option 1: 750
Option 2: 880
Option 3: 620
Option 4: 840