## Important Formulas

P = Principal

R = Rate of Interest

N = Number of years

SI(Simple Interest) = P x N x R/100

CI(Compound Interest) = P(1 + R/100)^{n}

Answer: Option [B]

The formula to calculate simple interest is :

SI=(P x T x R)/100

In the given question Principal(P)=Rs. 14000, Time(T)=(3/12)yr. and Rate of interest(R)=10%

So, SI=(14000 x 1/4 x 10)/100

=SI= Rs. 350