Question

What will be the simple interest on a sum of Rs 2600 from May12, 2017 to May 12, 2018 at 8.5% rate?

• A. Rs. 351
• B. Rs. 221
• C. Rs. 251
• D. Rs. 230

Answer 1

The correct option is B

Rs. 221

Time = 1 year

$Interest$ $=$ $\frac{(P\times R\times T)}{100}$

S.I. = 2600$\times$ $\frac{17}{2}$ $\times$1 $\times$ $\frac{1}{100}$ = Rs 221

Hence, the simple interest is Rs 221