Question

Find the simple interest on Rs.500 for 2 years at 5% per annum?​

Answer 1

Answer :-

• The simple interest on Rs 500 for 2 years at 5% per annum is Rs 50.

To find :-

• The simple interest.

Step-by-step explanation :-

• Here, the principal, rate and time have been given to us. We have to find the simple interest.

We know that :-

$\underline{ \boxed{\sf SI = \dfrac{Principal \times Rate \times Time}{100}}}$

Where,

• SI = Simple Interest.

Here,

• Principal = Rs 500.
• Rate = 5% per annum.
• Time = 2 years.

Therefore,

$\tt SI = \dfrac{500 \times 5 \times 2}{100}$

Cutting off the zeroes,

$\tt SI = \dfrac{5 \times 5 \times 2}{1}$

Now let's multiply the remaining numbers since we can't reduce them anymore.

$\tt SI = 5 \times 5 \times 2$

Multiplying the numbers,

$\overline{\boxed{\tt SI = Rs \: 50}}$

• Hence, the simple interest is Rs 50.

________________________________

Know more :-

What is simple interest?

• The interest calculated on the original money (principal) at given rate of interest for any given time is called simple interest.

Answer 2

Answer:

$\begin{gathered}{\Large{\textsf{\textbf{\underline{\underline{\color{green}{Given:}}}}}}}\end{gathered}$

• ➾ Principle = Rs.500
• ➾ Time = 2 years
• ➾ Rate of Interest = 5%

$\begin{gathered} \\ \end{gathered}$

$\begin{gathered}{\Large{\textsf{\textbf{\underline{\underline{\color{green}{To Find:}}}}}}}\end{gathered}$

• ➾ Simple Interest

$\begin{gathered} \\ \end{gathered}$

$\begin{gathered}{\Large{\textsf{\textbf{\underline{\underline{\color{green}{Using Formula:}}}}}}}\end{gathered}$

$\dag{\underline{\boxed{\sf{S.I = \dfrac{Principal \times Rate \times Time}{100}}}}}$

$\begin{gathered} \\ \end{gathered}$

$\begin{gathered}{\Large{\textsf{\textbf{\underline{\underline{\color{green}{Solution:}}}}}}}\end{gathered}$

$\quad{: \implies{\sf{S.I = \dfrac{Principal \times Rate \times Time}{100}}}}$

• ➾ Substituting the values

$\quad{: \implies{\sf{S.I = \dfrac{500 \times 5\times 2}{100}}}}$

$\quad{: \implies{\sf{S.I = \dfrac{5000}{100}}}}$

$\quad{: \implies{\sf{S.I = {\cancel{\dfrac{5000}{100}}}}}}$

$\quad{: \implies{\sf{S.I =Rs.50}}}$

$\begin{gathered} \dag{\overline{\underline{\boxed{\textsf{\textbf{\color{red}{S.I = Rs.50}}}}}}}\end{gathered}$

${\sf{\therefore{\underline{The \: Simple \: Interest \: is \: Rs.50.}}}}$

$\begin{gathered} \\ \end{gathered}$

$\begin{gathered}{\Large{\textsf{\textbf{\underline{\underline{\color{green}{Learn More:}}}}}}}\end{gathered}$

Formula of Simple Interest (S.I)

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

$\begin{gathered} \\ \end{gathered}$

Formula of Principle(P) if Amount and Interest given

★ ${\boxed{\sf{P=Amount - Interest}}}$

$\begin{gathered} \\ \end{gathered}$

Formula of Principle (P) if Interest,time and rate given

★ ${\boxed{\sf{P = \dfrac{Interest \times 100 }{Time \times Rate}}}}$

$\begin{gathered} \\ \end{gathered}$

Formula of Principle (P) if amount,time and rate given

★ ${\boxed{\sf{P = \dfrac{Amount\times 100 }{100 + (Time \times Rate)}}}}$

$\begin{gathered} \\ \end{gathered}$

Formula of Amount if Principle (P) and Interest (I) given

★ ${\boxed{\sf{Amount = Principle + Interest }}}$