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Multiple choice

What is the interest on Rs. 500 for six months with a rate of 8% calculated 6 monthly?

  1. Rs. 20

  2. Rs. 30

  3. Rs. 48

  4. Rs. 40

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

For 6 months at 8% per annum, the interest rate for the 6-month period is 4%. Simple interest = (Principal * Rate * Time) / 100 = (500 * 4 * 1) / 100 = 20.

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