Question

What will be the simple interest on a principal of Rs. 2250 for 5 years at the rate of 6 percent per annum?

• A. Rs. 675
• B. Rs. 625
• C. Rs. 715
• D. Rs. 725

Answer 1

Answer:

A. Rs. 675

Solution: Given: Principal (P) = Rs. 2250 Rate of interest (R) = 3% Time period (T) = 2 years Formula used: Simple Interest (S.I) = (P × T × R) /100 Calculation: Simple Interest (S.I) = (2250 × 5 × 6)/100 = Rs. 675 ∴ The interest is 675.