Question

if the rate interest is 5.5 % per annum on ₹100 for one year, then the interest earned is​

Answer 1

Answer:

here,

rate of interest = R =5.5%

principal = P =100 rs.

time = T =1year

Interest = (R*P*T)/100

= (5.5*100*1)/100

= 5.5 rs.

so, the interest will be 5.5 rupees.