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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?
  1. ₹ 11.25 
  2. ₹ 12.89
  3. ₹ 10.67
  4. ₹ 15.14


Solution

The correct option is A ₹ 11.25 
12 months = 1 year
9 months -   ?
9 months= 912
               = 0.75 years
We know that,
        I=P×T×R100

          =500×0.75×3100

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

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