Application of Simple Interest in Real Life Situations
If the simple...
Question
If the simple interest on 3000 rupees is 600 rupees at a certain rate for a certain number of years, what would the interest be on 1500 rupees under the same condition?
A
300rupees
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B
1000rupees
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C
700rupees
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D
500rupees
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Solution
The correct option is A300rupees
According to the question,
P= Rs.3000 and simple interest= Rs.600
Simple interest =Pnr
3000nr=600
rn=15
P= Rs.1500
Simple interest on Rs.15000=1500nr=1500×15= Rs. 300