- Rs. 27400
- Rs. 35400
- Rs. 30400
- Rs. 29400

Option 4 : Rs. 29400

Stay updated with the Quantitative Aptitude questions & answers with Testbook. Know more about Interest and ace the concept of Simple Interest.

**Given:**

Principal = Rs. 56000, Amount = Rs. 75600 and Rate % = 8.75%

We have to find the simple interest on the principal = Rs. 84000

**Formula used:**

S.I = P × R × T/100

A = P (1 + R × T/100)

**Calculation:**

According to question,

A = P (1 + R × T/100)

⇒ 75600 = 56000 (1 + 8.75 × T/100)

⇒ 756/560 – 1 = 7T/80

⇒ T = 4

So, the simple interest on Rs. 84000 at the same rate for 4 years = P × R × T/100

Hence, required S.I = 84000 × 8.75 × 4/100 = Rs. 29400
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