Question

At a rate of 10 p.c.p.a what would be the interest for one year on₹6000

Answer 1

Answer:

Rs.600.

Step-by-step explanation:

Principal [P] = Rs.6000.

Rate of interest [R] = 10%.

Time [T] = 1 year.

Interest [I] = P × R × T / 100.

                 = 6000 × 10 × 1 / 100.

                 = Rs.600.

Answer 2

Given:

Rate = 10 p.c.p.a

Time=1 year

Principal = ₹6000

To Find:

Interest

Solution:

For 1 year Simple Interest and Compound Interest, both are the same

Interest = (p×r×t)/100

where,

p= principal

r= rate

t= time

⇒Interest=(6000×10×1)/100

⇒Interest=₹600

Hence, the interest for one year on ₹6000 is ₹600