Question : Find the simple interest on Rs. 2,700 for 8 months at 5 paise per rupee per month.
Option 1: Rs. 950
Option 2: Rs. 720
Option 3: Rs. 540
Option 4: Rs. 1080
Answer (1)
25th Jan, 2024
Correct Answer: Rs. 1080
Solution :
The required simple interest $=\frac{\text{Principal × Rate × Time}}{100}=(\frac{5 × 2700 × 8}{100})$ = Rs.1080
Hence, the correct answer is Rs. 1080.
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