Question
Download Solution PDFThe simple interest on ₹73,000 at the rate of 15% per annum from 12-02-2022 to 11-02-2023 is :
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Principal (P) = ₹73,000
Rate (R) = 15% per annum
Time (T) = 1 year (from 12-02-2022 to 11-02-2023)
Formula used:
Simple Interest (SI) = \(\dfrac{P \times R \times T}{100}\)
Calculation:
SI = \(\dfrac{73,000 \times 15 \times 1}{100}\)
⇒ SI = \(\dfrac{1,095,000}{100}\)
⇒ SI = ₹10,950
∴ The correct answer is option 3.
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