If the interest charged for 18 months is 0.15 times the money borrowed under simple interest, then the rate of interest per year is $12 %$ . State with true or false.

True

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False

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Solution

The correct option is B False
Let the money borrowed be Rs. P.
Interest (I) charged $= 0.15 \times R s . P = R s . 0.15 P$

Using I = $\frac{P R T}{100}$ and substituting P = 0.15P , T = 1.5 years (18 months) we get

0.15P = $\frac{P R (1.5)}{100}$

Solving we get R = 10%

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If the interest charged for 18 months is 0.15 times the money borrowed under simple interest, then the rate of interest per year is 12%. State with true or false.

The correct option is B FalseLet the money borrowed be Rs. P. Interest (I) charged =0.15×Rs.P=Rs.0.15P Using I = PRT100 and substituting P = 0.15P , T = 1.5 years (18 months) we get 0.15P = PR(1.5)100 Solving we get R = 10%

If the interest charged for 18 months is 0.15 times the money borrowed under simple interest, then the rate of interest per year is $12 %$ . State with true or false.

The correct option is B False
Let the money borrowed be Rs. P.
Interest (I) charged $= 0.15 \times R s . P = R s . 0.15 P$

Using I = $\frac{P R T}{100}$ and substituting P = 0.15P , T = 1.5 years (18 months) we get

0.15P = $\frac{P R (1.5)}{100}$

Solving we get R = 10%