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Question
The interest on ₹ 30000 for 3 years at the rate of 15% per annum is ______.
Options
₹ 4500
₹ 9000
₹ 18000
₹ 13500
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Solution
The interest on ₹ 30000 for 3 years at the rate of 15% per annum is ₹ 13500.
Explanation:
From the question, It is given that,
Principal = ₹ 30000
Time = 3 Years
Rate = 15%
Then, we know the formula of simple interest
`I = (P xx R xx T)/100`
`I = (30000 xx 15 xx 3)/100`
I = ₹ 13500
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