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At the rate of 8 1/ 2% per annum simple interest, a sum of ₹ 5800 will earn how much interest in 2 yr 3 months?

₹ 1300
₹ 1109
₹ 1509
₹ 1725

Correct Answer: ₹ 1109

Explanation:

Time = 2 yr 3 months = 2¹/₄ yr = 9/4 yr
∴ SI = [5800 x (17/2) x (9/4)] / 100
= 8874/8
= ₹ 1109.25
= ₹ 1109

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