SOLUTION: Calculate the simple interest on Rs 75000 deposited in a bank at the rate of 8.5% for 51/2 years.

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Question 1138424: Calculate the simple interest on Rs 75000 deposited in a bank at the rate of 8.5% for 51/2 years.
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+I+=+P%2Ar%2At+
+I+=+75000%2A.085%2A5.5+
+I+=+35062.5+
Rs 35,062.50
( This assumes that 8.5% is an annual rate )