Find the simple interest on sum of Rs. 24000 given for 10 years at 4% per annum ?

Options

A. 4800
B. 6000
C. 8000
D. 9600

Answer

To find the simple interest (SI) on a sum of Rs. 24000 given for 10 years at an interest rate of 4% per annum, we can use the formula for simple interest:

**Simple Interest (SI) = (P × R × T) / 100**

Where:
- P = Principal amount (the initial sum of money)
- R = Rate of interest per annum
- T = Time in years

### Step-by-Step Solution:

1. **Identify the values:**
- Principal (P) = Rs. 24000
- Rate (R) = 4%
- Time (T) = 10 years

2. **Substitute the values into the formula:**
\[ SI = \frac{P \times R \times T}{100} \]
\[ SI = \frac{24000 \times 4 \times 10}{100} \]

3. **Calculate the multiplication in the numerator:**
- First, multiply the principal by the rate:
\[ 24000 \times 4 = 96000 \]
- Next, multiply that result by the time:
\[ 96000 \times 10 = 960000 \]

4. **Divide by 100:**
\[ SI = \frac{960000}{100} = 9600 \]

5. **Final Answer:**
The simple interest is Rs. 9600.