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What will be the interest, if Deepika lends Rs. 4500 to Avishek at 15% per annum on simple interest for 8 years. 
1. Rs. 5400
2. Rs. 5000
3. Rs. 3000
4. Rs. 4500

1 Answer

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Best answer
Correct Answer - Option 1 : Rs. 5400

Given

Deepika lends to Avishek = Rs. 4500

Rate of interest = 15% 

Time = 8 years 

Formula Used 

Simple Interest = (Principal × Rate × Time)/100

Calculation 

⇒ let the simple interest be x 

⇒ x = (4500 × 15 × 8)/100

⇒ x = 45 × 120 = Rs. 5400 

∴ The interest will be Rs. 5400

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