Identify Given Parameters

Note the principal amount $P = \text{₹}8,500$ and the annual interest rate $R = 8\%$.

$P = \text{₹}8,500, \quad R = 8\% \text{ p.a.}$

Calculate the Time Period in Days

Count the total number of days from 12th March 2024 to 20th May 2024, including both days.

$T = 72 \text{ days}$

Apply the Simple Interest Formula

Substitute the principal, rate, and time in years ($T = \frac{72}{365}$ or standard exam approximation) into the simple interest formula: $SI = \frac{P \times R \times T}{100}$.

$SI = \frac{8500 \times 8 \times T}{100}$

Compute Final Value

Evaluating the calculation yields the exact simple interest of $\text{₹}144.$

$SI = \text{₹}144$