What will be the simple interest on a principal of Rs 2400 for 6 years at the rate of 8 percent per annum?
Answer & explanation
Correct answer: option 4
Simple Interest = $\frac{P \times R \times T}{100}$
Here, P = Rs 2400, R = 8%, T = 6 years
⇒ Simple Interest = $\frac{2400 \times 8 \times 6}{100}$
= Rs 1152