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Simple interest

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  1. What would be the simple interest accrued in 4 yr on a principle of ₹ 18440 at the rate 15% per annum ?
    1. ₹ 11075
    2. ₹ 12250
    3. ₹ 11500
    4. ₹ 12985
    5. None of the above
Correct Option: E

Given, P = 18440, R = 15%, T = 4
∴ Simple interest (SI) = (P x R x T) / 100
= (4 x 18440 x 15) / 100
= ₹ 11064


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