Find the simple interest for Rs1500 at 8% per annum for 3 years.

Options

A. Rs400
B. Rs360
C. Rs450
D. Rs500

Answer

To find the simple interest for Rs. 1500 at an interest rate of 8% per annum over a period of 3 years, we can use the formula for simple interest:

**Simple Interest (SI) = (Principal × Rate × Time) / 100**

**Step 1: Identify the values.**
- Principal (P) = Rs. 1500
- Rate (R) = 8% per annum
- Time (T) = 3 years

**Step 2: Substitute the values into the formula.**
Using the formula:
\[ SI = \frac{P \times R \times T}{100} \]
Substituting the values we have:
\[ SI = \frac{1500 \times 8 \times 3}{100} \]

**Step 3: Calculate the multiplication in the numerator.**
First, multiply the principal by the rate and the time:
\[ 1500 \times 8 = 12000 \]
Then multiply by the time:
\[ 12000 \times 3 = 36000 \]

**Step 4: Divide by 100.**
Now divide the result by 100:
\[ SI = \frac{36000}{100} = 360 \]

**Final Answer:**
The simple interest for Rs. 1500 at 8% per annum for 3 years is Rs. 360.

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