Find the simple interest for a sum of ₹15,000 invested for 2 years at 8% per annum.

₹2400

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₹2800

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₹3200

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₹2000

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Solution

The correct option is A
₹2400

Given P = ₹15,000 R = 8% and T = 2 years

I = $\frac{P \times R \times T}{100}$

= $\frac{15, 000 \times 8 \times 2}{100}$

= ₹2400

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