Question : How much simple interest will Rs. 4000 earn in 18 months at 12% per annum?
Option 1: Rs. 216
Option 2: Rs. 360
Option 3: Rs. 720
Option 4: Rs.960
Answer (1)
25th Jan, 2024
Correct Answer: Rs. 720
Solution :
Given:
Principal = Rs. 4000
Time = 18 months = $1\frac{1}{2}=\frac{3}{2}$ years
Rate = 12%
Simple interest = $\frac{\text{Principal×Rate×Time}}{100}=\frac{4000×\frac{3}{2}×12}{100}=720$
Hence, the correct answer is Rs. 720.
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