Given:
Principal (P) = Rs 7200
Rate (R) = 14% per annum
Time (T) = 7 years
The simple interest formula is:
SI=100P×R×T
Substituting the values:
SI=1007200×14×7
14×7=98
SI=1007200×98
7200×98=705600
SI=100705600
SI=7056
Therefore, the simple interest is Rs 7056.