Question

find interest if principal =₹1200,rate of interest =12%P.a and time 1year ​

Answer 1

Given that :

P = Rs. 1200

R = 12%

Time = 1 year.

Let the interest br Rs. x

$interest \: = \frac{p \times r \times t \: }{100}$

$x = \frac{1200 \times 12 \times 1}{100}$

$x = rs \: 144$

Hence , the interest will be Rs.144

Additional Information :

A bank is a goverment recognized institution that carries out trasactions of money. Banks make it easier to plan the use of money ...i.e, to do financial planning. We can either deposit cash money in a bank or withdraw cash grom it.

For that purpose , we must open an account in a bank. Bank accounts are of various kinds.

Answer 2

$\huge\mathcal\red{required\:Answer}$

$principal \: = 1200rs.$

$rate \: of \: interest \: = 12\%p.a$

$time \: = 1year$

$simple \: interest \: = \frac{P \times R \times T}{100}$

$= \frac{1200 \times 12 \times 1}{100}$

$= 144rs.$

Additional info :

what is simple interest ?

When we interest is calculated every year only on the principal amount it is called as simple interest. It is denoted by S.I

Formulas of S.I

principal = interest × 100/ Time×rate = SI ×100/t ×r

Amount = Principal × interest = P+I

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