Multiple choice

What would be the simple interest accrued on an amount of Rs. 5000 at the rate of 6% p.a. after 8 years ?

  1. Rs.2200

  2. Rs.2400

  3. Rs. 2600

  4. Rs.2800

  5. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Simple Interest = (Principal × Rate × Time) / 100. Here: P = 5000, R = 6%, T = 8 years. SI = (5000 × 6 × 8) / 100 = 5000 × 48 / 100 = 50 × 48 = 2400. Option B (Rs. 2400) is correct.

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