Question

find simple interest on rupees 1000 at 6%p.a for 3 years

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Answer 1

Answer:

Given, principle (P) = 1000 /-

Time (t) = 2 years.

Rate of interest (r) = 5 %

We know, simple interest =

100

P.t.r

∴S.I.=

100

100×2×5

=100/−

∴ Simple interest is Rs. 100

∴ option A is correct.

Answer 2

Given :-

• Principal = Rs,1000
• Rate = 6%
• Time = 3 years

To Find :-

• Simple Interest

Solution :-

➞ Simple Interest = P × R × T ÷ 100

➞ Simple Interest = 1000 × 6 × 3 ÷ 100

➞ Simple Interest = 10 × 6 × 3

➞ Simple Interest = 10 × 18

➞ Simple Interest = Rs,180

Therefore, Simple Interest is Rs,180

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★ Additional Info :

• Principal: The money which we deposit in or the lower from the bank or the money learned called the principal.
• Rate of interest: The interest paid on Rs, 100 for one year is called the rate per cent per year or rate per cent per annum.
• Time: The period of time for which the money is lent or invested.
• Interest: Additional money paid by the borrowed to the lender for using the money is called interest.
• Simple Interest: If the interest is calculated uniformly on the original principal throughout the lone period, it is called simple interest.
• Amount: The total money paid back to the lender is called the amount.

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