Question

If a deposit of ₹10,000 amounts to ₹13,000 in 3 yrs, what is the rate of simple interest paid on it?? Calculate the simple interest at the same rate on a deposit of ₹7000 for 2 yrs​

Answer 1

Answer:

Rate of SI paid= Rs. 3000

Step-by-step explanation:

P = Rs.10000

T = 3 years

amount after 3 years = Rs. 13000

so, Interest = 13000-10000 = Rs. 3000

S.I = P*R*T / 100

R = S.I * 100 / P * T

  = 3000 * 100 / 10000 * 3

  = 10%    Ans

Now when P = 7000

                  T = 2 year

                  R = 10%

S.I = P*R*T / 100

    = 7000 * 10 * 2 / 100

    = 1400      Ans