A principal amount of ₹4800 is invested at an annual simple interest rate of $$8\frac{1}{2}\%$$. Calculate the interest earned over a period of 2 years and 3 months.

Question

Accepted Answer

To calculate the simple interest, use the formula:  
$$
S.I. = \frac{P 	imes R 	imes T}{100}
$$  
Where:  
- $$P = 4800$$ (Principal amount)  
- $$R = 8\frac{1}{2}\% = \frac{17}{2}\%$$ (Rate of interest per annum)  
- $$T = 2 	ext{ years } 3 	ext{ months} = 2\frac{1}{4} 	ext{ years} = \frac{9}{4} 	ext{ years}$$

Substitute the values into the formula:  
$$
S.I. = \frac{4800 	imes \frac{17}{2} 	imes \frac{9}{4}}{100}
$$

Simplify step-by-step:  
1. Multiply $$4800 	imes 17 = 81600$$.  
2. Divide $$81600 / 2 = 40800$$.  
3. Multiply $$40800 	imes 9 = 367200$$.  
4. Divide $$367200 / 4 = 91800$$.  
5. Divide $$91800 / 100 = ₹918$$.

Thus, the simple interest earned is **₹918**.

Answer

Answer

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