Find the interest on ₹74,000 at $

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Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

Find the interest on ₹74,000 at $18\frac{2}{3}$ % per annum for a period of 8 months ?

Options:

₹9,486.32

₹8,956.74

₹8,458.96

₹9,208.88

Correct Answer:

₹9,208.88

Explanation:

We know ,

Simple interest = $\frac{Principal ×Rate × Time }{100}$

= $\frac{74000 ×56 × 8 }{3 × 12 ×100}$

= $\frac{2960 × 14 × 2 }{3 × 3 }$

= 9208.88