Question

find out simple interest of Rs 7000 at 4% 4 years​

Answer 1

Answer:

It is an easy and quick method of calculating an interest charge on a loan. Simple interest (S.I.) is determined by multiplying the principal (P) with rate of interest (R) and time period (T).

S.I.= \dfrac{P \times R \times T}{100}

Example: Henry borrowed Rs. 5000 for 4 years at an interest rate of 5% from a bank. How much of interest is that?

We know,

S.I.=\dfrac{P \times R \times T}{100}

Here P= Rs. 5000, R= 5%, T= 4 years

So,

I=\dfrac{5000 \times 5 \times 4}{100}=Rs. 1000

Ans: Henry has to pay Rs. 1000 as interest.

Answer 2

Step-by-step explanation:

solution:

given,

principal(P)= Rs 7000

Rate(R%)= 4%

Time(T)= 4years

Simple Interest(SI)= ?

Now,

By using formula,

Simple Interest(SI)= PTR/100

SI = 7000×4×4/100

SI = 1120

Therefore, Simple Interest is Rs1120