Question

5. Find the simple interest on * 6,875 for
8 months at 6 paise per rupee?​

Answer 1

₹275

Step-by-step explanation:

For rate, 6 paise per rupee means 6 paise per 100 paise. So rate will be 6%. r = 6%

8 months = 8/12 years = 2/3 years

So, t = 2/3 years

Now, Simple Interest = P*r*t/100 = (₹6875*6*2)/(3*100) = ₹275

Simple Interest = ₹275