Multiple choice

At the rate of $8\dfrac { 1 }{ 2 } $% p.a. simple interest, a sum of Rs. 4800 will earn how much interest in 2 years 3 months?

  1. Rs 796

  2. Rs 816

  3. Rs 918

  4. Rs 956
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Rate = 8.5% = 17/2%. Time = 2 years 3 months = 2.25 years = 9/4 years. Interest = P * R * T / 100 = 4800 * (17/2) * (9/4) / 100 = 48 * 17 * 9 / 8 = 6 * 17 * 9 = 918.

AI explanation

Using the Simple Interest formula, we calculate the interest for 2 years and 3 months by converting the time to 9/4 years and the rate to 17/2 percent. The calculation is (4800 x 17/2 x 9/4) divided by 100, resulting in 24 x 17 x 9, which equals Rs. 918.

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