Question

find the simple interest on rs 1500 for 3 years at 5% per annum ​

Answer 1

Answer:

Step-by-step explanation:

Answer 2

The required interest is Rs. 225.

Given

Principal = 1500

Rate of interest = 5%

Time = 3 years

What is simple interest?

Simple interest is a quick and simple formula for figuring out how much interest will be charged on a loan. The daily interest rate, the principle, and the number of days between payments are multiplied to calculate simple interest.

Formula for simple interest is $\frac{ptr}{100}$

where p = principal

r = rate of interest

t = time

Now

Interest

$= \frac{1500 \times 5 \times 3}{100}\\= 15 \times 15\\=225$

Therefore, the required interest is Rs. 225.

To learn more about simple interests from the given link

https://brainly.in/question/16329409

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