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      Question

      Calculate the simple interest on Rs. 7,500 at the rate of

      12% per annum for 18 months.
      A Rs.1,350 Correct Answer Incorrect Answer
      B Rs.2,350 Correct Answer Incorrect Answer
      C Rs.1,300 Correct Answer Incorrect Answer
      D Rs.3,450 Correct Answer Incorrect Answer

      Solution

      ATQ,

      Simple interest = (Principal Γ— Rate Γ— Time) Γ· 1,200 (when time is in months)

      So, required interest = (7,500 Γ— 12 Γ— 18) Γ· 1,200 = Rs.1,350

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