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What would be the simple interest accrued in 4 yr on a principle of ₹ 18440 at the rate 15% per annum?

₹ 11075
₹ 12250
₹ 11500
₹ 12985

Correct Answer:

Explanation:

Given, P = 18440, R = 15%, T = 4
∴ Simple interest (SI) = (P x R x T) / 100
= (4 x 18440 x 15) / 100
= ₹ 11064

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