The simple interest on a certain sum is one-eighth of the sum when the number of years is equal to half of the rate percentage per annum. Find the simple inrerest (in ₹) on ₹ 15,000 at the same rate of simple interest for 8 years.
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 6000
given,
SI = P/8
and T = R/2
then, SI = PRT/100
P/8 = (P×R×R/2) / 100
R2 = 25
R = 5%
now, SI = (15000×5×8)/ 100
SI = 150×40
SI = 6000