Correct Answer - Option 4 : Rs. 462
Given
Principal = Rs. 9600
Time period = T years
Rate of interest = 9.25%
Amount = Rs. 10480
Formula used
simple interest = (Principal × Rate × Time)/100
Calculation
⇒ Rs. 10480 = Rs. 9600 + [(9600 × T × 9.25)/100]
⇒ Rs. 880 = 888T
⇒ T = 880/888
⇒ T = 110/111
⇒ Simple interest = [(8400 × 110/111 × 6/10 × 9.25)/100]
⇒ Simple interest = [(8400 × 66/111 × 9.25)/100]
⇒ Simple interest = Rs. 462
∴ the simple interest is Rs. 462