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Simple Interest

How much inte...

Question

How much interest does a Rs. $6100$ investment earn at $6 %$ over seven years?

2562

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2462

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2762

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2662

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Solution

The correct option is A $2562$
Here, $P =$ Rs. $6100, R = 6 %$ and $T = 7$ years
We know $S . I . = \frac{P \times R \times T}{100}$
$\Rightarrow$ $S . I . = \frac{6100 \times 6 \times 7}{100}$
Thus $S . I . =$ Rs. $2562.$

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