Question

find the simple interest on $500 for 3 years at 5% per annum

Answer 1

Answer

P = ₹ 500
rate = 5%
Time (n) = 3 years.

Simple Interest =
$\frac{p \times r \times t}{100}$

$\frac{500 \times 5 \times 3}{100} \\ \\ \frac{7500}{100} = rs.75$

▶ Simple interest is the rate in which we borrow the money or lend the money. We can determine the simple interest by using this formula = p × r × t / 100. P stands for principal , r stand for rate and t stands for time.

Answer 2

▶️Lets solve:-


P= 500

t=3 years

rate=5%


▶️let's insert the formula of S.I first .


↪S.I= P×R×T/100

↪S.I= 500×5×3/100

↪ rs.75


$\textbf {THE AMOUNT OF SIMPLE}$ $\textbf {INTREST ,RS=>75.}$


$\textbf {\underline {EXTRA ABOUT S.I.}}$


The simple intrest refers as the amount which is taken or given at the rate. Which is determined by the calculation.By calculation we know the accurate amount of S.I.