Question

If rate of interest is 5% per annum then the interest paid on 100 for
one year is 5.​

Answer 1

Answer:

GIVEN :-

RATE=5%

PRINCIPAL=100

TIME=1 year

SIMPLE INTEREST

=P×R×T/100

WHERE

P= principal

R=rate

T=time

SO,

100×5×1/100

=5

AMOUNT = PRINCIPAL+INTEREST

=100+5

=105

Step-by-step explanation:

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