Find the simple interest on Rs 20000 at 10 percent interest from 20 years
Answers
Answered by
41
Given:
- Principal money, P = Rs 20000
- Rate of interest per annum, R = 10
- Time for interest, t = 20 yrs
To find:
- Simple Interest, S.I. =?
Formula required:
- Formula for Simple interest
SI = (P × R × t ) / 100
[ Where P is principal, R is rate of interest per annum, t is time taken and SI is simple interest ]
Calculation:
Using formula for Simple interest
→ SI = ( P × R × t ) / 100
→ SI = ( 20000 × 10 × 20 ) / 100
→ SI = 200 × 10 × 20
→ SI = 200 × 200
→ SI = 40000 Rs
Therefore,
- Simple interest on Rs 20000 at 10 interest for 20 years would be 40000 Rs.
Answered by
445
Given : -
- p = 20000
- R = 10 %
- T = 20 Years
To find : -
- Find the simple interest
Solution : -
☯ we have formula :
→ SI = ( P × R × t ) / 100
putting all values :
➻ SI = ( 20000 × 10 × 20 ) / 100
➻ SI = 20000 × 200 / 100
➻ SI = 20000 × 2
➻ SI = 40000
hence the simple interest is 40,000
more information : -
- Simple interest is a quick method of calculating the interest charge on a loan.
- Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments.
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