Find the simple interest (in closest integral ₹) on ₹3000 at 8% per annum rate of interest for the period from 22 February 2024 to 23 April 2024

Correct option is A

Given:

Principle(P) = ₹3000

Rate(R) = 8%

Time Days = 8(Feb) + 31 (March) + 23 (April) = 62 days

Days convert into year 

As 2024 is leap year So
$$T = \frac{62}{366}$$ years

Formula used :

$$SI =\frac{ P \times R\times T}{100}$$  

Solution:  

Substituting the values in the formula;

$$SI = \frac{3000\times 8 \times \frac{62}{366}}{100}$$ 

$$SI = \frac{ 3000 \times 8 \times 62}{100 \times 366}$$ 

$$SI = \frac{1488000}{36600}$$ 

$$SI \approx 40$$ 

The simple interest is ₹40

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