Question

The interest earned on Rs 15,000 in three years at simple interest is Rs 5,400. Find the rate per cent per annum.
1) 15% 2) 25% 3) 12%
4) 8 % 5) 18%

Answer 1

3) 12% is the correct answer  

(P × R × T)/100 = S.I.

Thus, (15000 × R × 3) / 100 = 5400

R = (5400 × 100) / (15000×3)

R = 12% (3)

I = p×r×t ÷ 100  

P=Principal,

r=Rate per cent per annum,

t=Numbers of years.

For the next three years and rate of 14% p.a. for period beyond five years

Answer 2

Answer:

3) 12%

Step-by-step explanation:

P = Principal

R = Rate per cent for per annum

T = Number of years

I = P × R × T ÷ 100

(P × R × T) /100=S.I

Thus, (15000 × R × 3)/ 100 =5400

R = ( 5400 × 100) / ( 15000 × 3 )

R = 12%