salma borrows a loan of RS 50000 at 15% per year as the rate of interest find the interest she has to pay at end of one year.
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Answer:-
Given:
- Principal = Rs.50000
- Rate of Interest = 15 %
- Time = 1 yrs.
To Find:
- Interest in 1 year
Solution:
Interest
= (Principal × Rate × Time) ÷ 100
= (50000 × 15 × 1) ÷ 100
= 750000 ÷ 100
= 7500
Hence, Interest in 1 year is Rs.7500.
Formula to be remembered:-
▪︎Simple Interest = (Principal × Rate × Time) ÷ 100
▪︎Principal = (S.I. × 100) ÷ (Rate × Time)
▪︎Rate = (S.I. × 100) ÷ (Principal × Time)
▪︎Time = (S.I. × 100) ÷ (Rate × Principal)
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