Question
Download Solution PDFFind the simple interest (in ₹) if a sum of ₹350 is borrowed for 1.5 years at 20% per annum rate of interest.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Principal (P) = ₹350
Rate (R) = 20% per annum
Time (T) = 1.5 years
Formula used:
Simple Interest (SI) = (P × R × T) / 100
Calculation:
SI = (350 × 20 × 1.5) / 100
⇒ SI = (350 × 30) / 100
⇒ SI = 105
∴ The correct answer is option (2).
Last updated on Jul 17, 2025
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