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What will be simple interest for 1 yr and 4 months on a sum of ₹ 25800 at the rate of 14% per annum ?
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- ₹ 4816
- ₹ 2580
- ₹ 4816.75
- ₹ 4815
Correct Option: A
Here, P = ₹ 25800, R = 14%
T = 1 yr 4 months = 1 + (4/12) years = 1 + (1/3) = 4/3 yr.
According to the formula,
SI = (P x R x T) / 100 = {25800 x 14 x (4/3)}/100
= (258 x 14 x 4)/3
= ₹ 4816