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Question
Interest on ₹ 12000 for 1 month at the rate of 10 % per annum is ______.
Options
₹ 1200
₹ 600
₹ 100
₹ 12100
Solution
Interest on ₹ 12000 for 1 month at the rate of 10 % per annum is ₹ 100.
Explanation:
Principal = ₹ 12000
Time = 1 month = `1/12` year
Rate = 10%
Interest = `(P xx R xx T)/100`
= `(12000 xx 10 xx 1)/(100 xx 12)`
₹ 100
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