​What would be the annual interest accrued on a deposit of ₹24,550 in a bank that pays a 22% per annum rate of simple interest? ​

Correct option is B

Given:

Principal (P) = ₹24,550

Rate of interest (R) = 22% per annum

Time (T) = 1 year

Formula Used:
The formula for Simple Interest (SI) is:

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

Solution:

SI=$$\frac{24,550 \times 22}{100}$$​= 5401