New Click here to Enroll for SIDBI MSME Expert Classes by Experts

    Register

    Question

    A bank provides a loan at the rate of 5% per annum to a

    trader on an amount of 12,50,000 for 5 years. The simple interest to be paid is:
    A ₹2,25,400 Correct Answer Incorrect Answer
    B ₹3,12,500 Correct Answer Incorrect Answer
    C ₹2,40,600 Correct Answer Incorrect Answer
    D ₹4,20,250 Correct Answer Incorrect Answer

    Solution

    Simple Interest = Principal × Rate/100 × Time Simple Interest = 12,50,000 × 5/100 × 5 = 312500 ∴ The simple interest is Rs.312500

    Practice Next

    Relevant for Exams: