Question

Find the simple interest on borrowed on May 1 and will be paid after 6 months at 6.25% interest

Answer 1

Step-by-step explanation:

If P be any sum and r% be it's rate of Interest per

annum for t years, then interest in t years be.

Interest ( I ) = ( Ptr ) / 100.

Given, Sum = Rs 6400.

Time = 6 months = 1/2 year.

Rate = 10% p.a.

So, interest in 6 months.

= (Sum * Time * Rate) / 100.

= Rs { 6400 * ( 1 / 2 ) *10 } / 100.