Find the simple interest due after 120 days for Rs. 4800 at 10%?
1. 157.80
2. 157
3. 156.01
4. 124.93
1. 157.80
2. 157
3. 156.01
4. 124.93
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Correct Answer – Option 1 : 157.80
Given:
Number of days = 120 days
Principal = Rs 4800
Rate of interest = 10%
Concept used:
Simple interest, SI = P × R × T/100
Calculation:
SI = 4800 × (120/365) × (10/100) = Rs. 157.80
∴ The simple interest obtained is Rs 157.80.