If Aslam saves 12.5% of his monthly income which is rupees 32,000, find his saving.
Answers
Answer:
Simple Interest
Interest is the extra money paid by institutions like banks or post offices on money deposited (kept) with them. Interest is also paid by people when they borrow money.
With Simple interest, the interest is calculated on the same amount of money in each time period, and, therefore, the interest earned in each time period is the same. i.e., If the interest on a sum borrowed for certain period is reckoned uniformly, then it is called simple interest.
Let the principal = P, Rate = R% per annum (p.a) and Time = T years. Then ,
Example - 1
A sum of Rs 10,000 is borrowed at a rate of interest 15% per annum for 2 years. Find the simple interest on this sum and the amount to be paid at the end of 2 years.
Solution :
On Rs 100, interest charged for 1 year is Rs 15.
Amount to be paid at the end of 2 years = Principal + Interest
Answer:
4000
Step-by-step explanation:
32000/8=4000
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