Question
Download Solution PDFFind the simple interest on ₹27,000 at \(14 \frac{2}{3} \%\) per annum for 8 months.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:-
Principal (P) = ₹27,000
The rate (R) = 44/3% per annum,
Time (T) = 8 months = (8/12)year
Formula used:-
Simple Interest (SI) = (Principal × Rate ×Time) / 100
Calculation:-
SI = (27000 × 44 × 8)/ (3 × 12 ×100)
⇒ SI = 60 × 44 = 2640 Rs.
∴ The required answer is 2640.
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