A sum of Rs. 84,000 is deposited in a bank on simple interest at the rate of 15% for the period of 3 years. How much Simple Interest (in Rs.) will be received?
- ARs. 37,800
- BRs. 38,700
- CRs. 37,200
- DRs. 39,800
Solution & Step-by-step Explanation
Given:
Principal (P) = Rs. 84,000
Rate (R) = 15% per annum
Time (T) = 3 years
The formula for Simple Interest (SI) is:
SI=
100
P×R×T
SI=
100
84000×15×3
SI=840×45=Rs. 37,800
Principal (P) = Rs. 84,000
Rate (R) = 15% per annum
Time (T) = 3 years
The formula for Simple Interest (SI) is:
SI=
100
P×R×T
SI=
100
84000×15×3
SI=840×45=Rs. 37,800