find the interest on rupees 1500 for 2 years at 15% per annum
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Answer:
I =PNR/100
1500x2x15/100=450
Interst I= Rs 450
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3
Given - Principal, rate and time
Find - Interest
Solution - The interest on the given amount is Rupees 450
Simple Interest can be calculated using the formula -
Simple interest = Principal*Rate of interest*Time/100
Keep the values in the formula to find the value of simple interest.
Simple interest = 1500*15*2/100
Simple interest = Rupees 450
Hence, the interest on the given amount is Rupees 450
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