Question : What is the simple interest on Rs. 14400 for 12 months, if the rate of the interest be 11% per annum?
Option 1: Rs.1440
Option 2: Rs.1680
Option 3: Rs.1331
Option 4: Rs.1584
Answer (1)
17th Jan, 2024
Correct Answer: Rs.1584
Solution :
Principal = Rs. 14400
Time = 12 months = 1 year
Rate of the interest = 11% per annum
We know that,
Simple interest = $\frac{\text{Principal × Rate × Time}}{100}=\frac{14400 × 11 × 1}{100}= 1584$
Hence, the correct answer is Rs. 1584.
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