Find the simple interest on Rs. 2,700 for 8 months at 5 paisa per rupee per month?

A. Rs. 950

B. Rs. 720

C. Rs. 540

D. Rs. 1,080

Answer: Option D

Solution(By Examveda Team)

$$\eqalign{ & {\text{Rate}} = \frac{{5{\text{ paisa}}}}{{1{\text{ rupee}}}} = 5\% \cr & {\text{Time}} = 8{\text{ months}} \cr & {\text{S}}{\text{.I}}{\text{.}} = \frac{{2700 \times 5 \times 8}}{{100}} = 1080 \cr} $$