Question

We are deposit rupees 3000 from our summer job into an account that are simple annual interest how much interest will our account after 18 months at an annual interest rate of 5%

Answer 1

Principal=Rs 3000
Time=18 months=1.5 years.
Rate of interest=5 p.c.p.a.
Simple Interest,
$i = \frac{p \times r \times t}{100}$

$= \frac{3000 \times 1.5 \times 5}{100}$
=30×1.5×5
=150×1.5
=Rs. 225