Question

What is the simple interest if the sum of money Rs 4800 is invested at the interest rate of 8.5% for a time period of 2 years 3 months?

• A. Rs 918
• B. Rs 1078
• C. Rs 838
• D. Rs 728

Answer 1

The correct option is A

Rs 918

Time = 2 years 3months

$=$ $2\frac{1}{4}$ years

$=$ $\frac{9}{4}$ years

$S.I.$ $=$ $Rs$ $(4800\times \frac{17}{2}\times \frac{9}{4}\times \frac{1}{100})$

$=$ $Rs$ $918$

Hence, the simple interest is Rs 918.