find the simple interset on 10000rs. for 2 yr. at 12%p.a also find amount
Answers
Answer:
$12400.00
Step-by-step explanation:
You want to calculate the interest on rs.10000 at 12% interest per year after 2 year(s).
The formula we'll use for this is the simple interest formula, or:
Where:
P is the principal amount, rs.10000.00.
r is the interest rate, 12% per year, or in decimal form, 12/100=0.12.
t is the time involved, 2....year(s) time periods.
So, t is 2....year time periods.
To find the simple interest, we multiply 10000 × 0.12 × 2 to get that:
The interest is: rs.2400.00
Usually now, the interest is added onto the principal to figure some new amount after 2 year(s),
or 10000.00 + 2400.00 = 12400.00. For example:
If you borrowed the rs.10000.00, you would now owe rs.12400.00
If you loaned someone rs.10000.00, you would now be due rs.12400.00
If owned something, like a rs.10000.00 bond, it would be worth rs.12400.00 now.
10000×12×2/100=2400this is simple interest for 2 years