Question

Find the simple interest if P=1028, T=1year, R=2%​

Answer 1

20.56 IS THE SIMPLE INTEREST

Step-by-step explanation:

simple interest= P×T×R/100

S.I= 1028×1×2/100

=2056/100

=20.56

Answer 2

Before, finding the answer. Let's find out we can find the answer.

• In this question, we are asked to find the Simple Interest.
• So, in order to find the Simple Interest, we must use the formula of :

$\boxed{ \bf Simple \: Interest = \dfrac{p \times r \times t}{100} }$

Here,

• P = Principal
• R = Rate
• T = Time

_____________________________

Given :

• Principal = 1028
• Rate = 2%
• Time = 1 year

To find :

• Simple Interest

Solution :

We know that,

${ \sf Simple \: Interest = \dfrac{p \times r \times t}{100} }$

                      ${ \sf = \dfrac{1028 \times 2 \times 1}{100} }$

                      ${ \sf = \dfrac{1028 \times 2}{100} }$

                      ${ \sf = \dfrac{2056}{100} }$  [Because, 1028 × 2 = 2056]

                      ${ \sf = 20.56} }$

Therefore, the Simple Interest is Rs. 20.56.