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Q.

What is the interest on ₹ 1200 for 1.5 years at the rate of 15% per annum?


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a

₹ 290

b

₹ 260

c

₹ 280

d

₹ 270 

answer is D.

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Detailed Solution

Given, principal amount(P) is ₹ 1200, time(T) is 1.5 yrs and interest(R) is 15%.
We know that, simple interest = PTR100.
Simple interest = 1200×1.5×15100
= 27000100
= ₹ 270
Hence, the interest is ₹ 270.
So, option 4 is correct.
 
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