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Find the Simple Interest on Rs 450 for 2.5 years at rate of 3% per annum?
1. Rs. 35
2. Rs. 45.5
3. Rs. 60
4. Rs. 33.75

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Correct Answer - Option 4 : Rs. 33.75

Given:

Principal = Rs. 450

Time = 2.5 years

Rate of interest = 3%

Formula used:

S.I = PRT/100

Calculation:

S.I = Rs. (450 × 2.5 × 3)/100

⇒ Rs. 33.75

∴ The required S.I is Rs. 33.75

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