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Question : What will be the simple interest on a sum of INR 12,000 at the rate of 15 percent per annum for three years?

Option 1: INR 7,200

Option 2: INR 6,000

Option 3: INR 5,400

Option 4: INR 4,500


Team Careers360 1st Jan, 2024
Answer (1)
Team Careers360 24th Jan, 2024

Correct Answer: INR 5,400


Solution : Given: A sum of INR 12,000 at the rate of 15 percent per annum for three years.
We know, Simple interest = $\frac{\text{Principal × Rate × Time}}{100}=\frac{12000\times 15\times 3}{100}=$ INR 5,400
Hence, the correct answer is INR 5,400.

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