Find the Simple Interest on Rs 450 for 2.5 years at rate of 3% per annum?
1. Rs. 35
2. Rs. 45.5
3. Rs. 60
4. Rs. 33.75
1. Rs. 35
2. Rs. 45.5
3. Rs. 60
4. Rs. 33.75
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Correct Answer – Option 4 : Rs. 33.75
Given:
Principal = Rs. 450
Time = 2.5 years
Rate of interest = 3%
Formula used:
S.I = PRT/100
Calculation:
S.I = Rs. (450 × 2.5 × 3)/100
⇒ Rs. 33.75
∴ The required S.I is Rs. 33.75