Question

Anupam borrows Rs 1,25,000 from his friend at 10% per annum for 3 years. Find the interest paid at the end of three years

Answer 1

Solution:-

━━━━━━━━━━━━━━━━━━━━━━━━━━

$\large\to{\underbrace{\underline{\sf{Understanding\:the\:concept:-}}}}$

◍ Here, the question has given us the principal, rate of interest and time that is Rs 1,25,000, 10% per annum and for 3 years. Now, the question has asked us to find the simple intrest of it. So to get the answer we need to apply the formula of SI and we will get the interest.

ANSWER:-

◈ The simple interest on Rs 1,25,000 for his 3 years at 6% p.a. is ₹ 37500

GIVEN:-

☆ Principal = Rs. 1,25,000

☆ Rate of Interest = 10% per annum

☆ Time = 3 years

TO FIND:-

↠Simple Interest = ?

FORMULA:-

⬤ Simple Interest = P × R × T / 100

SOLVING BY APPLYING THE FORMULA:-

⇨ Principal = Rs. 1,25,000

⇨ Rate = 10%

⇨ Time = 3 years

⇨ Simple Interest = P × R × T / 100

➢ Simple Interest = 1,25,000 × 10 × 3 / 100

➢ Simple Interest = 1,25,000 × 30 / 100

➢ Simple Interest = 37,50,000 / 100

➢ Simple Interest = 37,50,000 / 100 = 37,500

➢ Simple Interest = Rs 37,500

Hence, we got the answer. The simple interest after 3 years will be Rs. 37,500.

━━━━━━━━━━━━━━━━━━━━━━━━━━