Multiple choice

What will be the simple interest on Rs. 24,000 for 1 year and 3 months at a rate of 2.5% p.a?

  1. Rs. 250

  2. Rs. 500

  3. Rs. 750

  4. Rs. 800
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Time = 1 year 3 months = 1.25 years. SI = (P * R * T) / 100 = (24000 * 2.5 * 1.25) / 100 = 240 * 3.125 = 750.

AI explanation

First, convert the time of 1 year and 3 months into 1.25 years, then apply the Simple Interest formula: Simple Interest = (Principal * Rate * Time) / 100. The calculation is (24000 * 2.5 * 1.25) / 100, which results in Rs. 750.

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