Multiple choice

Using the simple interest formula, find the missing value. $I =$ Rs. $1500$, $P =$ Rs. $15000$, $R =$ ___, $t$ $= 2$ years.

  1. $4\%$
  2. $5\%$
  3. $6\%$
  4. $7\%$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Using I = (P * R * T) / 100, we have 1500 = (15000 * R * 2) / 100. This simplifies to 1500 = 300 * R, so R = 5%.

AI explanation

Using the simple interest formula R = (100 * I) / (P * t), we substitute the given values to find the missing rate. The calculation becomes R = (100 * 1500) / (15000 * 2), which simpl to 150000 / 30000. This results in a rate of 5%, making the missing value 5%.

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