Interest on Rs 1200 for 1 1/2 yr at the rate of 15% per annum is Rs 180.

Question

State whether the statement are True or False.

Interest on Rs 1200 for 1 1/2 yr at the rate of 15% per annum is Rs 180.

Answer 1

False

Given,

So, the interest is ₹270.

Answer 2

False

Interest on ₹1200 for 1 1/2 years at the rate of 15% per annum is ₹180.

We have to determine if the given statement is true or false.

According to the question,

P = ₹1200

R = 15%

T = 1 1/2 years = 1 + 1/2 = 3/2 years

I = P × R × T/100

= 1200 × 15 × 3/100 × 2

= 12 × 15 × 3/2

= 6 × 15 × 3

= ₹270

Therefore, the interest is ₹270.