Answer: Given: Rs. 39200 and the rate of interest is 7%. Time = 15 months = 15/12 = 5/4 years.
Concept used: Interest = × interest rate × time)/100.
Calculations: According to the question. Interest = [39200 × 7 × (5/4)]/100. ⇒ Rs. ...
∴ The simple interest is Rs. 3430.
Explanation: