Question
Find the simple interest on Rs 12,000 at 6.5% per annum
for 2 years 8 months.Solution
Time T = 2 years 8 months = 2 + 8/12 = 2 + 2/3 = 8/3 years SI = (P × R × T)/100 = (12000 × 6.5 × 8/3)/100 6.5 × 8 = 52 SI = (12000 × 52)/(300) = (12000/300) × 52 = 40 × 52 = 2080
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