The simple interest accrued on a sum of ₹15,000 at the end of 5 years is ₹9,750. If the rate of interest is 3% lesser, then the interest would be
Given,
Principal (P) = ₹15,000
Time (T) = 5 yrs
Simple Interest (SI) = ₹9750
As we know,
$$SI\ =\ \frac{\left(P\times\ R\times\ T\right)}{100}$$
$$9750=\ \frac{15000\times\ R\times\ 5}{100}$$
$$R=\frac{\left(9750\times\ 100\right)}{15000\times\ 5}=13\%$$
According to question, If interest is 3% lesser
New R = 13 - 3 = 10%
$$S.I=\frac{15000\times\ 10\times\ 5}{100}=₹7500$$
Hence, Option D is correct.
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