Find the simple interest (in ₹) if a sum of ₹400 is borrowed for 5.5 years at 4% per annum rate of interest.
Find the simple interest (in ₹) if a sum of ₹400 is borrowed for 5.5 years at 4% per annum rate of interest.
यदि ₹400 की धनराशि को 4% वार्षिक ब्याज दर पर 5.5 वर्षों के लिए उधार लिया जाता है, तो साधारण ब्याज (₹ में) ज्ञात कीजिए।
Detailed Solution & Logic
Correct Answer:
88
Simple Interest formula:
$SI = \frac{P \times R \times T}{100}$
Given:
$P = 400$, $R = 4%$, $T = 5.5$ years
$SI = \frac{400 \times 4 \times 5.5}{100}$
$SI = 4 \times 4 \times 5.5$
$SI = 16 \times 5.5 = 88$
Correct Answer: ₹88
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