Question

find the interest on Rs. 600 for 2 yrs at the rate of 2 paise per rupee per month.

Answer 1

the interest is 2880

Answer 2

The interest on Rs. 600 for 2 yrs at the rate of 2 paise per rupee per month is Rs.288

Step-by-step explanation:

Principal = Rs.600

Time = 2 years

Rate of interest = $2 paise per rupee per month =\frac{2}{100}per month = 2% per month= \frac{2}{\frac{1}{12}}% per annum$

Simple interest = $\frac{P \times T \times R}{100}$

Simple interest = $\frac{600 \times 2 \times 2 \times 12}{100}$

Simple interest = $288$

Hence the interest on Rs. 600 for 2 yrs at the rate of 2 paise per rupee per month is Rs.288

#Learn more :

1. Find the simple interest and the amount at simple interest of

(a) Rs.350 for 3 years at 6%​

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