(a) Find the simple interest on 10000 Rs for 2 year at 12 %per annum. Also, find the
- Principal (P) = Rs 10000
- Rate (R) = 12%
- Time (T) = 2 years
To Find :-
- Simple Interest and Amount
➞ Simple Interest = P × R × T / 100
➞ Simple Interest = 10000 × 12 × 2 / 100
➞ Simple Interest = 100 × 12 × 2
➞ Simple Interest = 100 × 24
➞ Simple Interest = Rs 2400
⟾ Amount = Principal + Simple Interest
⟾ Amount = 10000 + 2400
⟾ Amount = Rs 12400
- Simple Interest = Rs 2400
- Amount = Rs 12400
★ 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.