What is the simple interest on ₹35000 at $\frac{18}{7}$% per annum for a period of 9 months?
Answer & explanation
Correct answer: option 1
9 months = \(\frac{3 }{4 }\) years
We know ,
Simple Interest = \(\frac{Principal ×Rate × Time }{100}\)
= \(\frac{35000 × 18 × 3 }{100×7×4}\)
= Rs. 675