find the SI and amount when principle is equal to rupees 2000 rate is equals to 5% p.a, time =5 years
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Solution!!
The principal, time and rate of interest are given in the question. We have to find the simple interest. There's a formula to find the interest. If you remember it, then you can easily solve this question.
Principal (P) = Rs 2000
Rate of interest (R) = 5%
Time (T) = 5 years
Interest = (P × R × T)/100
Interest = (2000 × 5 × 5)/100
Interest = 20 × 5 × 5
Interest = Rs 500
You see, just one formula and we got the simple interest. You can further find the amount too.
Amount = Principal + Interest
Using this formula, you can find the amount.
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