Question

Find the interest on a sum of Rs.10000 for 3years at the rate of 6% per annum. *


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Answer 1

Given :

• Principal = Rs 10000
• Time = 3 years
• Rate = 6% per annum

To find :

Interest on given sum for given period of time

Formula used :

I = P× r × t

Here,

• I = Interest
• P = principal
• r = rate% per annum
• t = time

Solution :

Here , we are given principal sum , and the rate of interest along with time period for which Interest is implemented. so we will use Formula of interest to find out the interest on given sum

Put value of P, r and t in above formula.

$\sf \implies \: Interest \: = \: P \times \dfrac{r}{100}\times t\:\\\\\sf \implies \: Interest \: = \: 10000 \times \dfrac{6}{100} \times 3 \\ \\ \sf \implies \: Interest \: = \: \dfrac{10000}{100} \times 6 \times 3 \\ \\ \sf \implies \: Interest \: = \: 100 \times 18 \\ \\ \sf \implies \: Interest \: = \: 1800$

ANSWER :

Interest = Rs 1800

Additional points :

• Amount = Principal + interest

Amount = 10000 + 1800

Amount = Rs 11800