If ₹12,000 becomes ₹15,000 at simple interest in 5 years, then find the rate of interest per annum.

Correct option is B

Given:
Principal amount ( P ) = ₹12,000.
Amount after 5 years ( A ) = ₹15,000.
Time ( T ) = 5 years.
Formula Used:
Simple Interest (SI ) = A - P.
Simple Interest (SI) =$$\frac{P \times R \times T}{100}$$​ , where R is the rate of interest per annum.
Solution:
SI = A - P = 15000 - 12000 = 3000
$$SI = \frac{P \times R \times T}{100}$$​​
Substitute the known values:
$$3000 = \frac{12000 \times R \times 5}{100}$$​

3000 = $$\frac{60000 \times R}{100}$$​​
3000 = $$600 \times R$$​​
R = $$\frac{3000}{600} = 5 \, \%$$​​