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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 × Rate × Time) ÷ 1,200 (when time is in months)

    So, required interest = (7,500 × 12 × 18) ÷ 1,200 = Rs.1,350

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