Question 21

The interest earned on ₹ 2250 at the rate of 3% simple interest per annum for 2 years will be:

Solution

If P denotes the principal ($), R denotes the rate (percentage p.a.) and T denotes time (years), then:-

$$S.I = \frac{(P × R × T)}{100}$$

$$S.I = \frac{(2250 × 3 × 2)}{100}$$

$$S.I = {(22.50 × 6)}$$

$$S.I = {135}$$

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