Question

Q4:{A} Find the total amount of simple interest that is paid over a period of five years on a principal of Rs.30,000 at simple interest at a rate of 6% p.c.p.a. (Application) [2½]

Answer 1

$SI = \frac{p \times r \times t}{100}$

$\: \: \: \: \: = \frac{30000 \times 6 \times 5}{100}$

$\: \: \: \: \: = 300 \times 6 \times 5$

$\: \: \: \: \: = 300 \times 30$

$\: \: \: \: \: = 9000$

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