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The simple interest on Rs.10 for 4 months at the rate of 3 paise per month is

0.3 Paise
1.2 Paise
30 Paise
3 Paise

Correct Answer: 1.2 Paise

Explanation:

Given Principal amount P = Rs. 10

Time T = 4 months

Rate of interest R = 3 ps

Interest I = PTR/100 = (10 x 4 x 3)/100 = 12/10 = 1.2 paise.

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