Question

1. Find the simple interest and amount on:
2
(i) 4500 for 2 years at 7% per annum
3
2
1
2​

Answer 1

Given :-

• Principle = 4500
• Time = 2 yrs
• At Rate = 7%

To Find :-

• The simple interest

Solution :-

As we know, Simple Interest = PRT / 100

→ 4500 × 2 × 7 / 100

→ 45 × 2 × 7

→ ₹630

Therefore, 630 is the simple interest on 4500 in 2yr at 7% .