Question
A sum of Rs. 1,500 is invested at a simple interest rate of
10% per annum for 18 months. If the interest earned is Rs. 'q', find the value of (q - 15).Solution
ATQ,
Simple interest = {Principal X rate X time (in years) } ÷ 100
So, interest earned = {1500 X 10 X (18/12) } ÷ 100 = Rs. 225
Therefore, required value = 225 - 15 = 210
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