Find the simple interest on Rs. $5{,}000$ at $8\%$ per annum for $3$ years.

Find the simple interest on Rs. $5{,}000$ at $8\%$ per annum for $3$ years.
  1. Rs. $1{,}000$
  2. Rs. $1{,}100$
  3. Rs. $1{,}200$
  4. Rs. $1{,}500$

Solution

$\text{SI} = \dfrac{P \cdot R \cdot T}{100} = \dfrac{5000 \cdot 8 \cdot 3}{100} = 1200$.

Asked in: IMO

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