Question

7. Find the simple interest for the following using the formula.
P=3000, R = 6% and T = 2 years​

Answer 1

Step-by-step explanation:

principal= 3000

Rate= 6%

Time =2 years.

Then ,we will use the formula for calculating the Simple Interest.

That is :

$si = p \times r \times t \\ 100$

SI= 3000×6×2

100

SI=360

Answer 2

Given :-

• Principal = Rs,3000
• Rate = 6%
• Time = 2years

To Find :-

• Simple Interest

Solution :-

➞ Simple Interest = P × R × T ÷ 100

➞ Simple Interest = 3000 × 6 × 2 ÷ 100

➞ Simple Interest = 30 × 6 × 2

➞ Simple Interest = 30 × 12

➞ Simple Interest = Rs,360

Therefore, Simple Interest = Rs,360

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★ Additional Info :

• Principal: The money which we deposit in or the lower from the bank or the money learned called the principal.
• Rate of interest: The interest paid on Rs, 100 for one year is called the rate per cent per year or rate per cent per annum.
• Time: The period of time for which the money is lent or invested.
• Interest: Additional money paid by the borrowed to the lender for using the money is called interest.
• Simple Interest: If the interest is calculated uniformly on the original principal throughout the lone period, it is called simple interest.
• Amount: The total money paid back to the lender is called the amount.

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