The simple interest on a sum of ₹1500 at 5% p.a. for 3 years is:

Correct option is D

Given:

Principle = ₹1,500

Time =3 years

Rate of interest = 5%p.a.

Formula Used:

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

Solution:

​$$SI = \frac{1500\times5\times 3}{100}$$​

SI = ₹225

The simple interest earned will be ₹225