Question

Find the simple interest on rs6000 for 1 year at 4% per annum

Answer 1

Simple interest = PRT / 100

6000 × 1 × 4 /100

60×4

240

Answer 2

Given,

Principal amount = Rs 6000

Time period = 1 year

Rate of Interest = 4% per annum

To Find,

The simple interest =?

Solution,

To find the simple interest, we can use the following formula:

$S.I. = \frac{P*R*T}{100}$

Where $S.I. =$ Simple interest

            $P =$ Principal amount

            $R =$ Rate of interest

             $T =$ Time period

Substituting the given values in the above formula,

$S.I. = \frac{6000*4*1}{100}$

        $= 240$ Rs

Hence, the simple interest on Rs 6000 for 1 year at 4% per annum is Rs 240.