Multiple choice

The simple interest on Rs. $1800$ at $3\frac {1}{2}$% per annum for $2\frac {1}{2}$ years is

  1. Rs. $157.50$
  2. Rs. $154.50$
  3. Rs. $156.50$

  4. none
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A Correct answer
Explanation

Simple Interest = (Principal * Rate * Time) / 100. Here, P = 1800, R = 3.5%, T = 2.5 years. SI = (1800 * 3.5 * 2.5) / 100 = 18 * 8.75 = 157.50.

AI explanation

Using the Simple Interest formula of (Principal x Rate x Time) divided by 100, substitute the mixed fractions to get (1800 x 7/2 x 5/2) divided by 100. This simplifies to 18 x 7 x 5 divided by 2, which calculates to Rs. 157.50.

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