Question

Find the simple interest on rupees 5000 at 8% p.a. For 3 years.

step by step explanation

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Answer 1

Answer :-

• The simple interest on Rs 5000 at 8% p.a. for 3 years is Rs 1920.

To find :-

• The simple interest.

Step-by-step explanation :-

• Here, the principal, rate and time is 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 5000.
• Rate = 8% p.a.
• Time = 3 years.

Substituting the given values in this formula,

$\longmapsto \rm SI = \dfrac{8000 \times 8 \times 3}{100}$

$\longmapsto\rm SI = \dfrac{80 \!\!\!\not0 \!\!\!\not0 \times 8 \times 3}{1 \!\!\!\not0 \!\!\!\not0}$

$\longmapsto\rm SI = \dfrac{80 \times 8 \times 3}{1}$

$\longmapsto\rm SI = 80 \times 8 \times 3$

$\longmapsto\overline{ \boxed{\rm SI = Rs \: 1920}}$

Hence :-

• The simple interest is Rs 1920.

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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.