Question

2. Jaimin takes Rs. 10000 at 12% per year as rate of interest, for 2 years. How much interest he

has to pay at the end of two years?​

Answer 1

Answer:

Jaimin pay interest at the end of two years = ₹2400

Step-by-step explanation:

Given :

Principal = ₹10000

Rate = 12%

Time = 2 years

To find :

Simple interest

Taken :

To find the simple interest use this formula -:

$\boxed{\sf{S.I.=\dfrac{P\:\times\:R\:\times\:T}{100}}}$

Where,

S.I. = Simple interest

P = Principal

R = Rate

T = Time

Solution :

$:\Rightarrow\sf{S.I.=\dfrac{100\cancel{00}\times12\%\times2}{1\cancel{00}}}$

$:\Rightarrow\sf{S.I.=100\times12\%\times2}$

$:\Rightarrow\sf{S.I.=1200\times2}$

$:\Rightarrow\sf{S.I.=Rs.2400}$

So , the interest Jaimin pay at the end of two years is ₹2400 .