Question

Find the simple interest on Rs.320 for 3 years at 5% per annum.

Answer 1

Answer:

48

Step-by-step explanation:

FORMULA=>P*T*R/100

=320*5*3/100

=4800/100

=48

Answer 2

Given:-

•Principal = 320rupees

•Time = 3 years

•Rate = 5%

To Find:-

•Simple Interest = ?

Solution:-

Here,

Interest on Rs.100 for 1 year = Rs.50

Interest on Re. 1 for 1 year

$\: \: \sf \: = rupees \frac{5}{100} = \frac{1}{20} rupees$

Interest on Re. 1 for 3 years

$\: \: \sf \: = \frac{3 \times 1}{20} rupees$

Interest on Rs.320 for 3 years

$\: \: \sf \: = \frac{3 \times 320}{20} = 48 \: rupees$

Hence,the required Simple Interest is 48 rupees.

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