Question

at rate of 5p.c.p.a whar is interest for 3 years
On RS 5000?​

Answer 1

Solution!!

The concept of simple interest has to be used here. The principal, rate of interest and time is given in the question. According to the question, we are asked to find the simple interest.

Principal = Rs 5000

Rate of interest = 5%

Time (T) = 3 years

Now, let's apply a suitable formula and substitute the values that we know in that formula to find the simple interest.

Interest = (P × R × T)/100

Here,

P → Principal

R → Rate of interest

T → Time

Interest = (5000 × 5 × 3)/100

Interest = 50 × 5 × 3

Interest = Rs 750

Hence, the simple interest is Rs 750.

Answer 2