What will be the amount of simple interest on Rs.75,000 at the rate of 2$$\frac{5}3$$​% per annum for a period of 5 years?

Correct option is C

Given:

Principal, P = Rs. 75000,

Rate, R = $$2 \frac{5}{3}\% = \frac{11}{3}\%$$​ , 

Time, T = 5 years

Formula Used:

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

Solution:

$$\text{SI} = \frac{75000 \times \frac{11}{3} \times 5}{100}\\ \ \\ = \frac{75000 \times 55}{300} \\ \ \\ = \frac{4125000}{300} = 13750$$ 

Thus, Simple interest is Rs. 13750 

Alternate Solution: 

Rate = $$\frac{11}3\% = \frac{11}{300}$$ 

11 - one year SI , For 5 year SI = 55 

300 unit = 75000 

so , 55 unit = $$\frac{75000}{300}\times 55 = ₹13750$$​​
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