Question

Find the simple interest for a loan of Rs.2000, at 10% rate of interest for 3 years​

Answer 1

Answer:

simple interest=principal×rate×time/100

=2000×10×3/100 Rs

=Rs 600

so, simple interest is Rs 600

Answer 2

Given:

• Principal = ₹2000
• Rate% = 10
• Time = 3 years

To Find:

• Simple interest?

Solution:

Considering given question,

We have given principal is ₹2000, rate is 10% and for 3 years.

We Know That:

• $\large{\sf{Simple~Interest~=~ \dfrac{P×R×T}{100}}}$

Where,

• P = principal
• R = rate%
• T = time

Put value in formula:

$\large{\sf{Simple~interest~=~\dfrac{2000×10×3}{100}}}$

$\implies\large{\sf{Simple~Interest~=~\dfrac{\cancel{2000}×10×3}{\cancel{100}}}}$

$\implies\large{\sf{Simple~interest~=20×10×3}}$

$\implies\large{\sf{Simple~Interest~=~600}}$

Therefore,

• Simple interest on given condition is ₹600