Question

Calculate the amount Priyanka gets if
3
she deposits 25,000 for 2 years at
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10% per annum simple interest.​

Answer 1

Let's know some formulas of simple interest

• Rate of interest = interest ×100/principal ×time
• interest = principal ×time ×rate of interest /100
• time = interest ×100/principal × rate of interest
• principal = interest ×100/rate of interest×time.

interest = principal×time×rate of interest /100

Here , principle= 25,000

rate of interest= 10%

time= 2 years

so ,the simple interest = 25,000×2×10/10

. = 5000

so the simple interest is 5000 ruppes