Answer:
The simple interest is Rs.427.5.
Explanation:
Given :
- Principle (P) = Rs.9500
- Rate (R) = 1.5%
- Time (T) = 3 years
To Find :
Using Formula :
- S.I = Simple Interest
- P = Principle
- R = Rate
- T = Time
Solution :
Substituting the values in the formula to find Simple Interest :
Hence, the simple interest is Rs.427.5.