Question

Find the simple interest on a loan P65,000if the loan is given at a rate of 20% and is due in 3 years ​

Answer 1

$\large{\boxed{\boxed{\sf Let's \: Understand \: Concept! }}}$

Here, we have given Principal, Rate and Time and have to find the Simple Interest. Here, we simply apply formula for Simple Interest and after substituting Value in it we will got our required answer.

$\huge{\boxed{\sf AnSwer}}$

______________________________

$\large{\underline{\textbf{Given:-}}}$

• Principal = Rs. 65,000
• Rate = 20%
• Time = 3yrs

$\large{\underline{\textbf{Find:-}}}$

• Simple Interest on loan.

$\large{\underline{\textbf{Formula Used:-}}}$

$\large{\underline{\boxed{\sf S.I. = \dfrac{P\times R\times T}{100} }}}$

$\large{\underline{\textbf{Solution:-}}}$

Here, using

$\huge{\underline{\boxed{\sf S.I. = \dfrac{P\times R\times T}{100} }}}$

$\sf where \small{\begin{cases} \sf P = Rs.6500\\ \sf R = 20\%\\ \sf T = 3yrs \end{cases}}$

$\bigstar\underline{\textsf{Substituting these values:}}$

$\dashrightarrow\sf S.I. = \dfrac{P\times R\times T}{100}$

$\dashrightarrow\sf S.I. = \dfrac{6500\times 20\times 3}{100}$

$\dashrightarrow\sf S.I. = \dfrac{390000}{100}$

$\dashrightarrow\sf S.I. = \dfrac{3900\not0 \not0}{1 \not0 \not0}$

$\dashrightarrow\sf S.I. = Rs. 3900$

$\underline{\boxed{ \therefore \sf Simple \: Interest \: on \: loan \: is \: Rs.3900 }}$