Question

The simple interest on a sum of $Rs960$ for $1$ year and $4$ month at the rate of $8\%$ per annum is

Answer 1

We can write 1 Year 4 Months $=1+\frac{1}{3}=\frac{4}{3}$ years

Now, $S.I.=\frac{PRT}{100}=\frac{960\times 8\times \frac{4}{3}}{100}=Rs102.4$