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Q.

The interest on Rs. 3000 at $11 %$ p.a for $2 \frac{1}{3}$ years is

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a

Rs.670

b

Rs.770

c

Rs. 870

d

Rs.470

answer is C.

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Detailed Solution

Given principal $P =$ Rs.3000

Rate $R = 11 %$

Time $T = 2 \frac{1}{3} = \frac{7}{3} y e a r s$

Interest $I = \frac{P T R}{100} = \frac{3000 \times \frac{7}{3} \times 11}{100} =$ Rs. 770

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