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Q.

What will be simple interest for 1 year and 4 months on a sum of Rs. 25800 at the rate of 14% per annum ?


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a

Rs.4798

b

Rs. 4618

c

Rs. 4816

d

Rs. 4168 

answer is C.

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Detailed Solution

Concept- Formula Used: Simple interest is calculated using the following formula: Question Imagewhere P is the principal money, R is the rate of interest and T is the time period of the simple interest.
The parameters are given as
Question ImageFirst we will convert 1 year and 4 months into years:
Question ImageNow we will calculate the simple interest by substituting the given values in the formula
Question ImageAs a result, Rs. 4816 is the simple interest for a period of 1 year and 4 months at a rate of Rs. 25800 at 14 percent annually.
Hence, the correct answer is option 3.
 
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