A depositor at the counter asked to be told beforehand what his term deposit would fetch him. What is the simple interest earned upon a sum of ₹24,000 placed at 7.5 per cent per annum for a period of…

Question

A depositor at the counter asked to be told beforehand what his term deposit would fetch him. What is the simple interest earned upon a sum of ₹24,000 placed at 7.5 per cent per annum for a period of four years?

PYQPulse · Accepted Answer

₹7,200

A depositor at the counter asked to be told beforehand what his term deposit would fetch him. What is the simple interest earned upon a sum of ₹24,000 placed at 7.5 per cent per annum for a period of four years?

Answer: B. ₹7,200