What will be the simple interest earned on an amount of ₹22000 in 8 months at $8\frac{1}{4}$% interest per annum?
Answer & explanation
Correct answer: option 3
Simple Interest = \(\frac{P\;R\;T}{100}\),
SI =$\frac{22000\;×\;8.25\;×\;8}{100\;×\;12} = 1210$.