Question

Maya deposited Rs. 500 in a post office for one year at 12 1/2% per annum . Find the compound interest at the end of first year.

Answer 1

Step-by-step explanation:

Principal= Rs.500

Rate of Interest= 12 1/2% p. a.=25/2%p.a.

Time= 1 year

P×R×T/100 = Simple Interest

=500×1× 25/2× 100

=₹62.5

Hence,the simple interest is₹62.5