Question: The simple interest accrued on an amount at the end of 5 yr at the rate of 12.5% per annum is Rs. 1575. What is the amount?
Options:
A) Rs. 2050
B) Rs. 2550
C) Rs. 2250
D) Rs. 2520
E) None of the above
Show Answer
Answer:
Correct Answer: D
Solution:
- [d] Given, simple interest (SI) = Rs. 1575
$ Time,(t),=5yr $
$ \Rightarrow $ $ Rate,(r),=12.5% $
$ Amount=? $
We know, simple interest
$ =\frac{Amount\times Time\times Rate}{100} $
$ \Rightarrow $ $ 1575=\frac{Amount\times 5\times 12\text{.5}}{100} $
$ \Rightarrow $ $ Amount=\frac{1575\times 100}{5\times 12.5} $
$ \Rightarrow $ $ Amount=Rs\text{.},2520 $