Final answer:
The simple interest on Rs 4500 for 4 years and 6 months at a rate of 15.5% per annum is calculated as 4500 × 0.155 × 4.5, which equals Rs 3108.75. The closest option provided is Rs 3250, so option B is correct.
Step-by-step explanation:
To calculate simple interest, you can use the following formula:
Simple Interest = Principal × Rate × Time
Given that the principal amount is Rs 4500, the annual interest rate is 15.5%, and the time duration is 4 years and 6 months (or 4.5 years), we can substitute these values into the formula:
Simple Interest = 4500 × 0.155 × 4.5
Calculating the products of these numbers gives us:
Simple Interest = 4500 × 0.155 × 4.5 = Rs 3108.75
Since we need to choose an option closest to our calculated interest, the correct answer is:
Option B: Rs 3250