Exams › SSC CGL (Prelims) › General

If $P = \text{Rs. }1500$, $R = 8.5\%$, and $T = 2.5$ years, find the simple interest.

1. Rs. 315
2. Rs. 310
3. Rs. 318.75
4. Rs. 320

Correct answer: Rs. 318.75

Solution

Simple interest is given by $SI = \frac{P\times R\times T}{100}$. Substituting the values gives $\frac{1500\times 8.5\times 2.5}{100} = 318.75$. Hence, the simple interest is Rs. 318.75.

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