Question

Find the simple interest on ₹5000 at the rate of 15/2% for a period of 3 years​

Answer 1

Answer:

The simple interest on ₹5000 at the rate of 15/2% for a period of 3 years is ₹1125.

Step-by-step explanation:

The information required to calculate simple interest: principal amount(which is the initial amount of money on which simple interest will be calculated), rate of interest and time.

We will be denoting principal as P, rate of interest as R and time as T.

Formula for calculating simple interest is:

$S.I=\frac{PTR}{100}$

In the given question, P=₹5000, R=15/2% and T=3 yrs

$S.I=\frac{5000.3.15}{2.100} \\ =\frac{50.3.15}{2.1} =\frac{25.3.15}{1.1} =1125$

The simple interest on ₹5000 at the rate of 15/2% for a period of 3 years is ₹1125.

Answer 2

Given - Prinicpal: ₹5000

Rate: 15/2%

Time: 3 years

Find - Simple Interest

Solution - Simple Interest on the given prinicpal and as per given information can be calculated by the formula -

Simple Interest = P*R*T/100

Keeping the values in formula to find the simple interest earned.

Simple Interest = 5000*15*3/2*100

Simple Interest = 1125

Therefore, simple interest on given prinicpal amount and as per given rate of interest and time period will be Rs. 1125.