Question

Find the amount after one year on a sum of ₹15,000 at $15\%$ per annum simple interest.

• A. $\text{Rs.}22,500$
• B. $\text{Rs.}37,500$
• C. $\text{Rs.}35,500$
• D. $\text{Rs.}40,000$

Answer 1

The correct option is B

$\text{Rs.}37,500$

Given, Principal = ₹ 15,000

Rate $=15\%$

Time $=1$ year

$\Rightarrow \text{Simple Interest}=\frac{\text{P}\times \text{r}\times \text{t}}{100}$

$=\frac{15,000\times 15\times 1}{100}$

= ₹ 2,250

Now, Amount $=\text{Simple Interest}+\text{Principal}$

$=2,250+15,000=₹17,250$