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Question

Find the simple interest of Rs.14000 at 10% per annum for 3 months ?

A 300
B 350
C 380
D 400
Answer & Explanation
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

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