A boy deposited Rs. 300 in the saving bank which pays an interest of 5%. how much interest will he get in one year ?,

A boy deposited Rs. 300 in the saving bank which pays an interest of 5%. how much interest will he get in one year ?,

Explanation

Simple Interest = Principal × Rate × Time

=300×5100×1=15.= 300 times tfrac{5}{100} times 1 = mathbf{15}.