Question

If principle = rs 1000, rate = 5% pa, time = 3 years then simple interest is​
(a) 100
(b) 150
(c) 300
(d) 250​

Answer 1

Step-by-step explanation:

SI. =P×R×T

UPON

100

1000×5×3

UPON

100

ANS =150

Answer 2

➤ Given :-

Principle :- ₹ 1000

Rate of interest :- 5%

Time :- 3 years

➤ To Find :-

Simple Interest on the given sum......

➤ Formula required :-

$\large \orange{\boxed{ \tt \gray{ P \times R \times T \div 100}}}$

➤ Solution :-

Here,

P = Principle

R = Rate of interest

T = Time

$\longmapsto \tt \dfrac{1000 \times 5 \times 3}{100}$

$\longmapsto \tt \dfrac{ \cancel{1000} \times 5 \times 3}{ \cancel{100}} = \dfrac{10 \times 5 \times 3}{1}$

$\longmapsto \tt10 \times 5 \times 3 = \boxed {\tt150}$

$\Huge\therefore$Option (B) 150 is the correct answer

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$\dashrightarrow$ Some related formulas :-

Principle :- $\boxed{\tt SI \times 100 \div R \times T}$

Rate of interest :- $\boxed{\tt SI \times 100 \div P \times T}$

Time :- $\boxed{\tt SI \times 100 \div P \times R}$

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Extra information :-

$\longrightarrow$ Simple Interest :-

• Simple interest is a quick and easy method of calculating the interest charge on a loan.
• Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments.

$\longrightarrow$ Principle :-

• The principal is the money borrowed or initial amount of money deposited in a bank. The principal is denoted by a capital letter “P.”
• The extra amount you earn after depositing or the extra amount you pay when settling a loan.

$\longrightarrow$ Rate of interest :-

• This interest rate represents a ratio of the principal borrowed or invested.
• Typically, this interest rate is given as a percentage per year, in which case it is called the annual interest rate.

$\longrightarrow$ Time :-

• Simple interest benefits consumers who pay their loans on time or early each month.