In how much time will a sum of money ₹7500 earn an interest of ₹150 at the rate of 4% per annum simple interest?

Correct option is C

Given:

Principal, P = ₹7500

Simple Interest, SI = ₹150

Rate of interest, R = 4% per annum

Formula Used:

SI = $$\frac{P \times R \times T}{100}$$​​

Solution:

150 = $$\frac{7500 \times 4 \times T}{100}$$​​

150 = 300T

T = $$\frac{150}{300}$$​​

= 0.5 years

= 6 months