Calculate the interest and the amount in the following cases. Principle (?) = 240, Rate (p.a) = 12%, Time (T) = 2 years. Share with your friends Share 1 Shrutina Agarwal answered this Dear Student, Simple interest = P×R×T100 = 240×12×2100 = Rs 57.60Amount = P + SI = Rs 240 + 57.60 = Rs 297.60 Regards, 1 View Full Answer