Question

Find the simple interest on Rs5640/- at 5% for 3 years?​

Answer 1

As we know that

Given,

Amount = Rs. 5640

Rate = 5%

Time = 3 years

So that,

Interest = $\frac{P × R × T}{100}$

= $\frac{5640 × 5 × 3}{100}$

= $\frac{5640 × 3}{20}$

= 282 × 3

= Rs. 846

∴ the interest on Rs. 5640 at a rate of 5% per annum for 3 years is Rs. 846.

Answer 2

$Principal = 5,640$

$Rate = 5 \: \%$

$Time = 3 \: years$

$SI = \frac{P×R×T}{100}$

$SI = \frac{5,640\times 5 \times 3}{100}$

$SI = \frac{564 \times 15}{10}$

$SI = \frac{8,460}{10}$

$SI = 846$