Question 57

The simple interest on Rs. 2000 for 2 years at 7.5% per annum will be

Solution

Principal sum = P = Rs. 2000

Rate of interest = 7.5% and time period = 2 years

Simple interest = $$\frac{P \times r \times t}{100}$$

= $$\frac{2000 \times 7.5 \times 2}{100}$$

= $$20 \times 15=Rs.$$ $$300$$

=> Ans - (B)

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