Question

principal amount is 8,500 and rate is 9% = _ interest​

Answer 1

Simple Interest = Rs 765

Simple interest is a quick and simple technique of calculating interest on money. Interest is always applied to the initial principle amount under the simple interest method, and the rate of interest is the same for each time cycle.

Simple interest is computed using the formula S.I. = P R T, where P is the principal, R is the annual rate of interest in percent, and T is the time, commonly expressed in years. The interest rate is expressed in percentages and is written as r/100.

Here,

Principal Amount = Rs 8500

Rate of Interest = 9% per annum = 0.09

Assuming Time period to be 1 year

Simple Interest = 8500 × 0.09 × 1

∴ Simple Interest = Rs 765