To earn ₹15,000 as simple interest in 5 months at 12% per annum, what should be the invested amount?
₹3,00,000
Time \(= 5\) months \(= \frac{5}{12}\) years, and rate \(= 12\%\) per annum.
Using Simple Interest \(= \frac{P \times R \times T}{100}\), we have \(15000 = \frac{P \times 12 \times 5}{100 \times 12}\).
This simplifies to \(15000 = \frac{P \times 5}{100} = 0.05P\).
So \(P = \frac{15000}{0.05} = 3,00,000\).
Hence, the invested amount is ₹3,00,000.
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