Multiple choice

Find the interest for the principal Rs. $4110$ at the rate of $3\%$ for $4$ years.

  1. $343.50$
  2. $493.20$
  3. $460.19$
  4. $531.12$
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B Correct answer
Explanation

Simple interest is calculated as (P * R * T) / 100. Here, (4110 * 3 * 4) / 100 = (4110 * 12) / 100 = 49320 / 100 = 493.20.

AI explanation

Using the simple interest formula of Simple Interest equals Principal times Rate times Time divided by 100, we substitute the given values. The interest equals 4110 times 3 times 4 divided by 100, which simplifies to Rs. 493.20.

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