Question:
How much interest will Rs- 10,000 earn in 9 months at an annual rate of 6 per cent?
How much interest will Rs- 10,000 earn in 9 months at an annual rate of 6 per cent?
Updated On: Sep 25, 2024
- 450
- 500
- 475
- 600
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The Correct Option is A
Solution and Explanation
The correct option is (A): 450
Explanation: To calculate the interest earned on Rs. 10,000 for 9 months at an annual rate of 6%, we can use the formula for simple interest:
\[\text{Interest} = \text{Principal} \times \text{Rate} \times \text{Time}\]
1. Principal (P) = Rs. 10,000
2. Rate (R) = 6% per annum = 0.06 (as a decimal)
3. Time (T) = 9 months = \(\frac{9}{12}\) years = 0.75 years
Now substituting these values into the formula:
\[\text{Interest} = 10,000 \times 0.06 \times 0.75\]
\[= 10,000 \times 0.045\]
\[= 450\]
Thus, the interest earned is Rs. 450. Therefore, the answer is A: 450.
Explanation: To calculate the interest earned on Rs. 10,000 for 9 months at an annual rate of 6%, we can use the formula for simple interest:
\[\text{Interest} = \text{Principal} \times \text{Rate} \times \text{Time}\]
1. Principal (P) = Rs. 10,000
2. Rate (R) = 6% per annum = 0.06 (as a decimal)
3. Time (T) = 9 months = \(\frac{9}{12}\) years = 0.75 years
Now substituting these values into the formula:
\[\text{Interest} = 10,000 \times 0.06 \times 0.75\]
\[= 10,000 \times 0.045\]
\[= 450\]
Thus, the interest earned is Rs. 450. Therefore, the answer is A: 450.
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