Multiple choice

The simple interest on $Rs. 2800$ for $5$ years at $6$% per annum is

  1. $Rs. 900$
  2. $Rs. 760$
  3. $Rs. 800$
  4. $Rs. 840$
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D Correct answer
Explanation

SI = (P * R * T) / 100 = (2800 * 6 * 5) / 100 = 28 * 30 = 840.

AI explanation

Using the simple interest formula, Simple Interest = (Principal * Rate * Time) / 100, we substitute the given values. This gives Simple Interest = (2800 * 6 * 5) / 100. Multiplying the numerators results in 84000 / 100, which equals 840. The result is Rs. 840.

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