Question

A merchant borrowed 10,000 rupees from a Bank at a rate of 11 p.c.p.a What would be simple interest after 4 years?​

Answer 1

Principal Amount=₹10000
Rate Of interest=11% pa
Time=4 years

Now Understand Question
Suppose You have ₹10
You have Given to your friend And said I take rupees back after 10 days with 10% rate each Day.
MEANS
Today you give
Adding 10% on 10
10/100×10=₹1

For Each day you will be given =₹1
For 10 day=10×1
=₹10

This ₹10 is Simple interest.

Just like above Question
Use Formula

$si = \frac{principal \times rate \times time}{100} \\ = \frac{10000 \times 11 \times 4}{100} \\ = 4400$
$\boxed{\mathbf{SI=Rs.4400}}$

Answer 2

➤ Given :-

Principle :- ₹ 10000

Rate of interest :- 11%

Time :- 4 years

➤ To Find :-

Simple Interest of the given sum

➤ Formula required :-

${\large \tt \dashrightarrow \orange{\boxed{\tt \gray{\dfrac{P \times R \times T}{100}}}}}$

➤ Solution :-

Simple Interest :-

${\tt \longrightarrow \dfrac{10000 \times 11 \times 4}{100}}$

${\tt \longrightarrow \dfrac{\cancel{10000} \times 11 \times 4}{\cancel{100}} = \boxed{\tt 100 \times 11 \times 4}}$

${\tt \longrightarrow 100 \times 44 = \boxed{\tt Rs \: \: 4400}}$

$\Huge\therefore$ The simple interest of the given sum is ₹ 4400.

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$\dashrightarrow$ Some related formulas :-

Simple Interest :- ${\boxed{\tt\dfrac{P \times R \times T}{100}}}$

Principle :- ${\boxed{\tt\dfrac{SI \times 100}{R \times T}}}$

Rate of interest :- ${\boxed{\tt\dfrac{SI \times 100}{P \times T}}}$

Time :- ${\boxed{\tt\dfrac{SI \times 100}{P \times R}}}$

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More to know :-

• Simple Interest is the extra amount to be given when a person borrows some money from a person or a bank. The person who gives money is called lender. The person who takes money is called borrower.
• Principal is the amount given at first from lender to borrower.
• Rate of interest is the extra amount to be given from borrower to lender. It is always written in percentage format.
• Time is given for the borrower to return back the given money with the given interest.