What will be the simple interest earned on an amount of ₹16,800 in 9 months at the rate of $$6\frac{1}{4}$$​% per annum?

Correct option is A

Given:

Principal (P) = ₹16,800
Time (T) = 9 months =$$\frac{9}{12}$$ years =$$\frac{3}{4}$$​ years

Rate of Interest (R) = 6$$\frac{1}{4}$$​% per annum = 6.25%

Formula Used:

Simple Interest (SI) = $$\frac{P \times R \times T}{100}$$​

Solution:

SI =$$\frac{16,800 \times 6.25 \times \frac{3}{4}}{100}$$​

SI $$= \frac{16,800 \times 6.25 \times 0.75}{100} = \frac{16,800 \times 4.6875}{100} = \frac{78,750}{100} = ₹787.50$$​