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Simple interest

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  1. Rakesh lent out ₹ 8750 at 7% annual interest, Find the simple interest in 3 yr.
    1. ₹ 1870
    2. ₹ 1837.50
    3. ₹ 1560
    4. ₹ 2200
Correct Option: B

Given, P = ₹ 8750., R = 7% T = 3 yr
According to the formula.
SI = (P x R x T)/100 = (8750 x 7 x 3)/100
= ₹ 1837.50


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