Question

Aakash deposited ₹ 62,500 in the bank. The bank pays an interest of 8% per annum. Find the interest and the amount that will be received after 7 years​

Answer 1

Answer:

Principal=P = Rs.62,500

Rate =R = 8%

Time =T= 7 years

Simple interest = S.I = ?

Solution:

$S.I = \frac{P \times R \times T}{100}$

$S.I = \frac{62500 \times 8 \times 7}{100}$

$S.I = 625 \times 8 \times 7$

S.I = 35,000

So, Simple Interest is Rs.35,000

Step-by-step explanation:

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