Discussion Forum



1)

A construction company borrowed Rs. 8,50,000 for 5 years at interest rate 1( 1/2)% p.a. How much annual interest, the company had to pay?


A) Rs.63,750

B) Rs. 1,27,500

C) Rs.12,750

D) Rs.25,000

Answer:

Option A

Explanation:

S.I= $\frac{850000\times3}{2\times100}=4250\times15=$ Rs. 63750