?
The interest earned on Rs. 15000 in 3 years at simple interest is Rs. 5400. Find the rate of interest per annum.
Answer & Solution
Correct Answer:
Option
B
$$\eqalign{
& {\text{Rate}} = \frac{{{\text{S}}{\text{.I}}{\text{.}} \times {\text{100}}}}{{{\text{Principal}} \times {\text{Time}}}} \cr
& \,\,\,\,\,\,\,\,\,\,\,\,\, = \frac{{5400 \times 100}}{{15000 \times 3}} \cr
& = 12\% \,{\text{Per annum}}{\text{.}} \cr} $$
Join the Discussion
Login to post a comment or share your explanation.
Login