Quantitative Aptitude Ques 276

Question: The interest earned on Rs. 15000 in 3 yr simple interest is Rs. 5400. Find the rate interest per annum.

Options:

A) 11.5%

B) 12%

C) 12.6%

D) 15%

E) 18%

Show Answer

Answer:

Correct Answer: B

Solution:

  • P = Rs. 15000, Time(t) = 3yr Simple interest (SI) = Rs. 5400, Rate (r) =? From the formula, $ SI=\frac{P\times r\times t}{100} $
    $ \Rightarrow $ $ 5400=\frac{15000\times r\times 3}{100} $ Rate of interest, r = 12%
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