Question

$2700 is invested for 2 years at 5% per year simple interest. work out the total interest​

Answer 1

Working out:

The above question belongs to Simple Interest. We have to find the total interest means we have to calculate the Simple Interest. All the necessary values are given like:

• Principal Amount, P = $2700
• Rate of Interest, R = 5% per year
• Time Period, T = 2 years

We need to find the Simple Interest?

The basic formula of Simple Interest is as follows:

$\boxed{\rm{SI = \dfrac{P \times R \times T}{100}}}$

Where,

• SI - Simple Interest
• P - Principal Amount
• R - Rate of Interest
• T - Time Period

Now applying the formula, and plugging the values, we get the following results:

$\implies SI = \dfrac{27\cancel{00} \times 5 \times 2}{1\cancel{00}}$

$\implies SI = 27 \times 5 \times 2$

$\implies SI = 270$

Hence, the simple interest is $270.

$\rule{300}{2}$

Important Formulae:

Simple interest SI on a certain sum of money of Rs P invested at the rate of R% per annum for T years is given by,

$\implies \boxed{\rm{SI = \dfrac{P \times R \times T}{100}}}$

Simple interest SI on a certain sum of money of Rs P invested at the rate of R% per month for n months is given by,

$\implies \boxed{\rm{SI = \dfrac{P \times R \times n}{12 \times 100}}}$

Simple interest SI on a certain sum of money of Rs P invested at the rate of R% per day (non-leap year) for d days is given by,

$\implies \boxed{\rm{SI = \dfrac{P \times R \times d}{365 \times 100}}}$

Answer 2

Given Data :

Principal (P) = $ 2700

Time (T) = 2 years

Rate of Interest (R) = 5%

To Find :

Simple Interest (S.I)

Solution :-

Simple Interest is given by

SI = PRT/100

THEN,

⇒ (2700 • 2 • 5)/ 100

⇒ 27000/100

⇒ $ 270

∴ Simple Interest = $ 270