What is the simple interest on BDT 15,000 at 8% per annum for 5 months?

A

Tk. 450

B

Tk. 500

C

Tk. 525

D

Tk. 600

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Question: Find the simple interest on BDT 15,000 at 8% per annum for 5 months.

Solution:
Principal, P = 15,000 Taka
Time, n = 5 months = 5/12 years
Rate of interest, r = 8% = 8/100

Simple Interest, I = P × n × r
= 15,000 × (5/12) × (8/100)
= (15,000 × 5 × 8)/(12 × 100)
= 600,000/1200
= 500

The simple interest is Tk. 500.

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Updated: 8 hours ago

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