The Solution.
The formula for calculating simple interest is
[tex]S.I=\frac{P\times R\times T}{100}[/tex]In this case,
[tex]\begin{gathered} P=\text{ \$3300, R=5.3\%, T=8months=}\frac{8}{12}=\frac{2}{3}\text{years} \\ S.I=\text{simple Interest=?} \end{gathered}[/tex]Substituting these values in the formula above, we get
[tex]S\mathrm{}I=\frac{3300\times5.3\times\frac{2}{3}}{100}=\frac{3300\times5.3\times2}{100\times3}[/tex][tex]S\mathrm{}I=11\times5.3\times2=116.6\approx\text{ \$116.60 or 11660 cent}[/tex]Thus, the correct answer is $116.60 or 11660 cent.
