Question

Given :

Principal = 10,000
Rate = 5 %
Time = 2 years


Find Simple Interest!​

Answer 1

Given :

• Principal = 10,000
• Rate = 5 % per annum
• Time = 2 years

To Find :

• Simple Interest = ?

Solution :

Firstly, The formula to find simple intrest is :

$\large \bigstar \boxed{ \pink{\bf Simple \: Interest = \dfrac{Principal \times Rate \times Time }{100}}}$

Now, we are given,

• Rate, R = 5%

• Time, T = 2 years

• Principal, P = 10,000

Now, put values in Formula,

$\bf : \implies Simple \: Interest = \dfrac{10000 \times 2 \times 5}{100}$

$\bf : \implies Simple \: Interest = \dfrac{10000 \times 10}{100}$

$\bf : \implies Simple \: Interest = \dfrac{100000}{100}$

$\bf : \implies Simple \: Interest = \dfrac{1000\cancel{00}}{1\cancel{00}}$

$\bf : \implies Simple \: Interest = 1000$

$\Large \boxed{\bf Simple \: Interest = 1000}$

Hence, Simple Intrest = 1000

Answer 2

Given,

Principal = 10,000

Rate = 5 %

Time = 2 years

To find,

The simple interest on the given amount and rate for the given time.

Solution,

We can easily solve this problem by following the given steps.

According to the question,

We have:

Principal (P) = 10,000

Rate (R) = 5 %

Time (T) = 2 years

We know that the following formula is used to find the simple interest:

Simple interest (SI) = Principal×rate×time/100

SI = (10000×5×2)/100

SI = Rs. (100×10)

SI = Rs. 1000

(More to know: we can find the total amount by adding the principal amount and the simple interest.)

Hence, the simple interest is Rs. 1000.