Question

A sum of Rs.$15,000$ is invested for $3$ years at $13$ % per annum Simple interest. Calculate the interest for the third year.

• A. $1850$
• B. $1950$
• C. $1550$
• D. $2050$

Answer 1

Answer: (B)

$1950$

Under simple interest,

Interest $=P\times r\times t$

Here,

$P=15000$

$r=13\%$

$t=1$ $(\because$ we need to calculate interest only for third year, i.e. $t=1)$

Interest $=15000\times \frac{13}{100}=$ Rs. $1950$