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Q.

Calculate the simple interest on Rs. 30000 for 3 years at the rate of 15% per annum.


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a

Rs. 4500

b

Rs. 9000

c

Rs. 18000

d

Rs. 13500 

answer is D.

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Detailed Solution

From the given data, we have,
Principal = Rs. 30000
Rate = 15% p.a.
Time = 3 years.
The formula for the simple interest (I) is given as follows,
I= P×R×T 100 , where P denotes the principal, R denotes the rate of interest and T denotes the time in years.
So, substituting the values, we get,
I= 30000×15×3 100 =13500
So, the interest earned is found as Rs. 13500.
Hence, the correct option is (4).
 
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