Question

Sushma borrowed ₹ 500 from Krishna at the rate of interest of 3 p.c.p.a. What is the interest that Sushma has to pay after 9 months?

• A. ₹ 15.14
• B. ₹ 11.25
• C. ₹ 12.89
• D. ₹ 10.67

Answer 1

The correct option is B ₹ 11.25

12 months = 1 year
9 months - ?
9 months= $\frac{9}{12}$
= 0.75 years
We know that,
$I=\frac{P\times T\times R}{100}$

$=\frac{500\times 0.75\times 3}{100}$

= ₹ 11.25
The interest that Sushma has to pay after 9 months is ₹ 11.25.