How to calculate simple interest if priniciple is 300000 interest is 9% and time is 5 years?
Answers
Answered by
0
Answer:
Simple Interest is Rs 135000
Explanation:
Formula for Simple Interest is
SI = (P × R × T)/100
Where, P = Principal amount, R = Rate of interest, T = Time in years
Here, we have
P = Rs 300000
R = 9%
T = 5 years
Simple interest is calculated as
SI = (Rs 300000 × 9 × 5)/100
SI = Rs 3000 × 45
SI = Rs 135000
Similar questions