If Srujan has borrowed ₹8,500 at 6% rate of interest per annum, then calculate the simple interest paid by him after 3 years.

₹1,510

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₹1,520

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₹1,530

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₹1,540

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Solution

The correct option is C ₹1,530
Principal (P) = ₹8,500
Rate of interest (R) = 6% per annum
The time period for which interest to be paid (N) = 3 years
Assume Interest paid as I. I = $\frac{(P N R)}{100}$
⇒ I = $\frac{8500 \times 3 \times 6}{100}$
⇒ I = ₹1,530

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If Srujan has borrowed ₹8,500 at 6% rate of interest per annum, then calculate the simple interest paid by him after 3 years.

The correct option is C ₹1,530Principal (P) = ₹8,500 Rate of interest (R) = 6% per annum The time period for which interest to be paid (N) = 3 years Assume Interest paid as I. I = (PNR)100 ⇒ I = 8500×3×6100 ⇒ I = ₹1,530

The correct option is C ₹1,530
Principal (P) = ₹8,500
Rate of interest (R) = 6% per annum
The time period for which interest to be paid (N) = 3 years
Assume Interest paid as I. I = $\frac{(P N R)}{100}$
⇒ I = $\frac{8500 \times 3 \times 6}{100}$
⇒ I = ₹1,530