Question

Find the simple interest on ₹ 5500 for 3 yrs at 14% per annum.

Answer 1

Answer:

SI = 2310

Step-by-step explanation:

SI = PRT/100

SI = (5500 x 3 x 14) / 100  

SI = 2310

Answer 2

Given,

₹ 5500 for 3 years at 14% per annum.

To Find,

The simple interest =?

Solution,

We can solve the question as follows:

It is given that we have to find the simple interest on ₹ 5500 for 3 years at 14% per annum.

$Principal\: amount= Rs.\: 5500$

$Time = 3\: years$

$Rate = 14$%

The formula for simple interest is given as:

$Simple interest = \frac{PRT}{100}$

Where,

$P = Principal\: amount$

$R = Rate\: of\: interest$

$T = Time$

To find the simple interest, we will substitute the given values in the above formula,

$S.I. = \frac{5500*14*3}{100}$

      $=55*14*3$

      $= Rs.\: 2310$

Hence, the simple interest is equal to Rs. 2310.