QA – Placement Quizzes | Simple Interest | Question 5
An amount of Rs.9600 lent out at a rate of 9/2 % per annum for a 1 year and 9 months. At the end of the period, the amount he earned as S.I was:
Explanation: Given that, principal = P = Rs.9600, R = 9/2 % and T = 1 year and 9 months = 1 + 9/12 year = 7/4 years.
Now, we have to find the S.I for 7/4 years.
S.I = PRT/100 = Rs. 9600 x 9/2 x 7/4 x 1/100 = 12 x 9 x 7 = 756
Hence, the required S.I amount is Rs.756
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