calculate is the simple interest on rupees 10824 and 8 months at the rate of 7.75 percent per annum
Answers
Answered by
2
Solution!!
The concept of simple interest has to be used here. The principal, rate of interest and time is given in the question. We have to find the simple interest.
Principal (P) = Rs 10824
Rate of interest (R) = 7.75%
Time (T) = 8 months = 2/3 years
The time is given in months so we had to convert it in years.
Now, let's use the appropriate formula and find the simple interest.
Interest = (P × R × T)/100
Interest = (10824 × 7.75 × (2/3))/100
Interest = (3608 × 7.75 × 2)/100
Interest = (7216 × 7.75)/100
Interest = 55924/100
Interest = Rs 559.24
Hence, the simple interest is Rs 559.24!!
The questioner may further ask you to find the amount also. So, here's how you can find it.
Amount = Principal + Interest
Similar questions