The interest earned on ₹15,000 in 3 ye

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Home Questions FDQ4A5H959

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Simple Interest

Question:

The interest earned on ₹15,000 in 3 years at simple interest is ₹5,400. Find the rate of interest per annum.

Options:

11.5%

12%

12.5%

15%

Correct Answer:

12%

Explanation:

SI = \(\frac{ P ×R× T}{100}\)

5400 = \(\frac{ 15000 ×R× 3}{100}\)

R = 12%

The correct answer is option (2) : 12%