If the interest on 3000 rupees is 600 rupees at a certain rate for a certain number of years. What would the interest be on 1500 rupees under the same conditions?

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answer is A.

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Detailed Solution

Concept: In case of Simple Interest, Interest =

Where, P = Principle on which Interest in compounded
R = Rate of Simple Interest per annum
T = Time period of interest.
Given in the question is a Principal amount and its corresponding Interest amount and that, we have to find the interest amount on a different principle amount but with the same rate of interest and time period.
So, assuming Rate of Simple Interest per annum to be “R” and Time period of interest to be “T” and substituting the P and I values in the above-mentioned formula, we will get a value for “RT”. We will directly use this value with the principal amount whose interest we have to calculate, in the same formula and obtain our desired answer.
Given, Interest on 3000 rupees is 600 rupees at a certain rate for a certain number of years.
Therefore,
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Therefore, interest on 1500 with RT = 20 is
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Hence, the Correct Answer is (1).

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