Amit borrowed ₹ 1500 at the rate of 12% per annum for three years. Find the simple interest on this sum.

₹ 540

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₹ 360

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₹ 480

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₹ 900

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Solution

The correct option is A ₹ 540
Given
Principal (P) = ₹ 1500
Rate of interest (R) = 12%
Time period(T) is 3 years

Then,
Simple interest on this sum = $\frac{P R T}{100}$
Simple interest on this sum = $\frac{1500 \times 12 \times 3}{100}$
Simple interest on this sum = ₹ 540

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Amit borrowed ₹ 1500 at the rate of 12% per annum for three years. Find the simple interest on this sum.

The correct option is A ₹ 540Given Principal (P) = ₹ 1500 Rate of interest (R) = 12% Time period(T) is 3 years Then, Simple interest on this sum = PRT100 Simple interest on this sum = 1500×12×3100 Simple interest on this sum = ₹ 540

The correct option is A ₹ 540
Given
Principal (P) = ₹ 1500
Rate of interest (R) = 12%
Time period(T) is 3 years

Then,
Simple interest on this sum = $\frac{P R T}{100}$
Simple interest on this sum = $\frac{1500 \times 12 \times 3}{100}$
Simple interest on this sum = ₹ 540