Question

Find simple interest.
Rs 7000 is lent for 2 yrs at rate of 1 paisa per rupee per month.

Answer 1

Principal=Rs.7000
Number of years=2
Rate=1 paisa per 1 rupee, so 1 rupee per 100 rupee, so 1% per month, so 12% a year.
S.I = P N R /100
=7000 * 2 * 12 /100
=1680
The simple interest for the given question is R.s.1680.

Answer 2

S.I = P N R /100
     =7000 * 2 * 12 /100
     =1680
The simple interest for the given question is R.s.1680.