Question

Find the simple interest and also amount on Rs 400 for three years at the rate of 5% per annum?

Answer 1

$\underline{\underline{\bf SOLUTION :}}$

 

Given :

Principal (P) = Rs 400

Rate of Interest (R) = 5% per annum

Time (T) = 3 years

 

To be found :

Simple Interest (S.I) and Amount (A)

   

So,

$\bf Simple\:\:Interest = \frac{P\times R \times T}{100}$

$\bf Simple\:\:Interest = \frac{400\times 5 \times 3}{100}$

$\bf Simple\:\:Interest =60$

We got Simple Interest (S.I) = Rs 60

Now

Amount (A) = Simple Interest (S.I) + Principal (P)

 

Amount (A) = Rs 60 + Rs 400

Amount (A) = Rs 460

Hence,

Simple Interest (S.I) = Rs 60

Amount (A) = Rs 460

Answer 2

$\boxed{\boxed{\underline{\underline{\bf Simple\:\: Interest }}}}$

Simple Interest is the additional money paid by the borrower to the lender for using the money. Simple Interest is also the additional money paid by the bank for the money deposited. It is shortly written as S.I.

 

$\bf Simple\:\: Interest (S.I) = \frac{Principal(P) \times Rate \:\:of \:\:Interest(R) \times Time(T)}{100}$

 

Now,

$\underline{\underline{\bf Principal (P) }}$

The money which we deposit in or borrow from a bank or money lender is called the Principal.

 

$\underline{\underline{\bf Rate \:\:of \:\:Interest (R)}}$

The interest on Rs 100 for one year is known as Rate of Interest per year or Rate of Interest per annum.

$\underline{\underline{\bf Time (T)}}$

The period of time for which the principal is kept in a bank is called Time.

$\underline{\underline{\bf Amount (A)}}$

Simple Interest when added to the principal gives amount

Amount (A) = Simple Interest (S.I) + Principal (P)

 

 

Now,

ANSWER :

   

Principal (P) = Rs 400   (given)

Rate of Interest (R) = 5% per annum   (given)

Time = 3 years    (given)

Now

we have to find Simple Interest (S.I) and Amount (A)

as we know that,

$\bf Simple\:\: Interest (S.I) = \frac{Principal(P) \times Rate \:\:of \:\:Interest(R) \times Time(T)}{100}$

$\bf Simple\:\: Interest (S.I) = \frac{400 \times 5\times 3}{100}$

$\bf Simple\:\: Interest (S.I) =Rs \:\:60$

Now,

Amount (A) = Simple Interest (S.I) + Principal (P)

Amount (A) = Rs 60 + Rs 400

Amount (A) = Rs 460

$\bf Hence,\\\\\underline{\underline{Simple\:\: Interest (S.I)}}=Rs \:\:60\\\\\underline{\underline{Amount (A)}}=Rs\:\: 460$

More information :

• If Time(T) is in months, then convert it into year by dividing it by 12.
• if Time(T) is in weeks, then convert it into year by dividing it by 52.
• If Time(T) is in days, then convert it into year by dividing it by 365.
• If Rate of Interest is per rupee and not per cent, then convert it into per cent by multiplying it by 100.