Question

If principal Is ₹700 for 2 years at the rate of 3% per annum, then find the simple interest and amount also​

Answer 1

Principal ( P) = Rs. 700

Rate of intrest (R) = 3 % p.a

Time ( T )= 2 years

SI =?

SI = P×T×R/ 100

= 700 × 3 × 2/ 100

= 70× 3 × 2

= 420

SI = Rs. 420

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Answer 2

Answer:

The simple interest will be ₹ 42 and the amount is ₹ 742

Step-by-step explanation:

In context to the question asked,

We have to find the simple interest and amount,

As per data given in the question,

We have,

Principal ( P ) = ₹ $700$

Rate of interest ( R ) = $3\%$

Time ( T ) = $2$ years

For calculating the simple interest:

The formula to be used:-

$S.I = \frac{P \times R \times T }{100}$

Substitute the given values,

$=> S.I = \frac{700 \times 3 \times 2}{100}$

$=> S.I = \frac{4200}{100}$

$=> S.I = 42$

So, the simple interest is ₹ 42.

For calculating the amount:

The formula to be used:-

$=> A = P + S.I$

$=> A= 700 + 42$

$=> A =742$

So, the required amount is ₹ 742.