Question

Calculate the simple interest is $P=Rs7425,R=18\%,T=6\frac{3}{4}years$.

Answer 1

Calculating the simple interest

$$\begin{gathered} T=6\frac{3}{4}years=\frac{27}{4}years \\ SI=\frac{P\times R\times T}{100}=\frac{7425\times 18\times 27}{4\times 100}=Rs9021.37 \end{gathered}$$

Hence the simple interest is Rs. 9021.37