What is the simple interset on Rs. 7200 in 7 years at the rate of 14 % per annum ?

Options

A. Rs. 6800
B. Rs. 6812
C. Rs. 7056
D. Rs. 7096

Answer

To find the simple interest on Rs. 7200 over 7 years at an interest rate of 14% per annum, we will use the formula for simple interest:

### Step 1: Write down the formula for Simple Interest (SI)
The formula for calculating simple interest is:

\[ SI = \frac{P \times R \times T}{100} \]

Where:
- \( SI \) = Simple Interest
- \( P \) = Principal amount (initial amount of money)
- \( R \) = Rate of interest (in percentage)
- \( T \) = Time (in years)

### Step 2: Identify the values
From the question, we have:
- Principal \( P = 7200 \) Rs
- Rate \( R = 14\% \)
- Time \( T = 7 \) years

### Step 3: Substitute the values into the formula
Now, we substitute the values into the formula:

\[ SI = \frac{7200 \times 14 \times 7}{100} \]

### Step 4: Calculate the multiplication
First, we calculate the multiplication in the numerator:

\[ 7200 \times 14 = 100800 \]
\[ 100800 \times 7 = 705600 \]

### Step 5: Divide by 100
Now, we divide the result by 100:

\[ SI = \frac{705600}{100} = 7056 \]

### Final Answer
Thus, the simple interest on Rs. 7200 in 7 years at the rate of 14% per annum is:

\[ SI = 7056 \text{ Rs} \]

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