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    Question

    A sum of Rs. 1,500 is invested at a simple interest rate of

    10% per annum for 18 months. If the interest earned is Rs. 'q', find the value of (q - 15).
    A 210 Correct Answer Incorrect Answer
    B 200 Correct Answer Incorrect Answer
    C 215 Correct Answer Incorrect Answer
    D 225 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    ATQ,

    Simple interest = {Principal X rate X time (in years) } ÷ 100

    So, interest earned = {1500 X 10 X (18/12) } ÷ 100 = Rs. 225

    Therefore, required value = 225 - 15 = 210

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