Question

Find the simple interest on a deposit of Rs, 7,000 for 2 years at 8% per
annum?​

Answer 1

Answer:

SI is Rs,1120

Step-by-step explanation:

hope it helps!!

Answer 2

Solution:-

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◉ Here the question has given us the principal that is Rs 7,000, rate that is 8% and time that is 2 years. The question has asked us to find the simple interest on a deposit of Rs. 7,000 for 2 years at rate 8% per annum. So, to find the simple interest we need to apply the formula of Simple Interest (S.I) and the final digist will be the interest of per annum.

ANSWER:-

• Simple interest on a deposit of Rs. 7,000 for 2 years at rate 8% per annum is Rs 1,120.

GIVEN:-

◉ Principal = 7,000

◉ Rate of interest = 8% per annum

◉ Time = 2 years

TO FIND:-

◉ Simple Interest per annum = ?

FORMULA:-

◉ Simple Interest (S.I) = P × R × T / 100

SOLVING BY APPLYING THE FORMULA:-

◉ Principal = Rs 7,000

◉ Rate = 8%

◉ Time = 2 years

◉ Simple Interest = P × R × T / 100

◉ Simple Interest = 7,000 × 8 × 2 / 100

◉ Simple Interest = 7,000 × 16 / 100

◉ Simple Interest = 1,12,000 / 100

◉ Simple Interest = 1,12,000 / 100 = 1,120

◉ Simple Interest = Rs 1,120

Hence, we got our answer by applying the formula of Simple Interest. Simple Interest on a deposit of Rs. 7,000 for 2 years at rate 8% per annum is Rs 1,120.

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