Multiple choice

What would be the simple interest accrued in 3 years on a principle of Rs.293,440 at the rate of 7.8% p.a.?

  1. $Rs. 68664.96$
  2. $Rs. 70560.87$
  3. $Rs. 64726.23$
  4. $Rs. 69546.82$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Simple Interest = Principal × Rate × Time / 100. SI = 293440 × 7.8 × 3 / 100 = 293440 × 0.078 × 3 = 2934.40 × 3 × 7.8 = 8803.20 × 7.8 = 68664.96.

Keep practicing — related questions