Question

Find interest if Principal= Rs.8000,Time = 2 years, Rate = 11 % ​

Answer 1

➤ Given :-

Principle :- ₹ 8000

Time :- 2 years

Rate of interest :- 11%

➤ To Find :-

Simple Interest on the given sum.............

➤ Formula required :-

$\large \tt \dashrightarrow \orange{ \boxed{ \tt \gray{ \frac{P \times R \times T}{100} }}}$

➤ Solution :-

In the formula,

P = Principle

R = Rate of interest

T = Time

So,

Simple Interest :-

$\tt \longrightarrow \dfrac{8000 \times 2 \times 11}{100}$

$\tt \longrightarrow \dfrac{ \cancel{8000} \times 2 \times 11}{ \cancel{100}} = \boxed{ \tt 80 \times 2 \times 11}$

$\tt \longrightarrow160 \times 11 = \boxed{ \tt 1760}$

$\Huge\therefore$The simple Interest of the given sum is ₹ 1760.

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More to know................

• Simple interest is the extra amount given from borrower to lender. Here, borrower is one who borrows money and lender is one who gives money. Sometimes, the lender can also be banks.
• Principle is the amount given at first from lender to borrower.
• Rate of interest is the extra amount to be given from borrower to lender, which is always written in percentage form.
• Time is given for borrower to return back the money to lender with the given interest.