Question

Find the simple interest on ₹3000, at a simple interest rate of 10% per annum for eight months.

Answer 1

Given P = ₹3000

R = 10%

To calculate, time (T) = 8 months = $\frac{2}{3}$ years

S.I $=\frac{P\times R\times T}{100}=\frac{3000\times 10\times \frac{2}{3}}{100}=₹200$