Question : What will be the simple interest on a principal of INR 2400 for 6 years at the rate of 8% per annum?
Option 1: INR 1082
Option 2: INR 972
Option 3: INR 1232
Option 4: INR 1152
Answer (1)
18th Jan, 2024
Correct Answer: INR 1152
Solution :
Principal = INR 2400
Term = 6 years
Rate = 8%
$\therefore$ Simple interest $=\frac{\text{Principal × Rate × Time}}{100}=\frac{2400 × 6 × 8}{100}= 1152$
Hence, the correct answer is INR 1152.
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