Question

Interest on $Rs.12000$ for $1$ month at the rate of $10\%$ per annum is

(a) $Rs.1200$
(b) $Rs.600$
(c) $Rs.100$
(d) $Rs.12100$

Answer 1

The correct option is (c): $Rs.100$

Given, Principal, $P=Rs.12000$
Rate, $R=10\%$
Time, $T=1$ month $=\frac{1}{12}$ year

$\therefore I=\frac{P\times R\times T}{100}$

$=\frac{12000\times 10\times \frac{1}{12}}{100}$

$=Rs.100$