Question

Santosh deposited R3000 at the
rate of 7% per annum for
three years . Find the interest​

Answer 1

Answer:

₹630

Step-by-step explanation:

P = ₹3000

R = 7 %

T = 3 years

S.I = (P×R×T)/100

= (3000×7×3)/100

= 63000/100

= ₹630

Answer 2

Question:

Santosh deposited ₹3000 at the rate of 7% per annum for three years . Find the interest.

Given:

• Principal = ₹3000
• Rate = 7%
• Time = 3 years

To Find:

• Simple Interest = ?

Solution:

SI = $\frac{P\times R\times T}{100}$

$= \frac{3000\times 7\times 3}{100}$

$= \frac{63000}{100}$

$= 630$

Hence, Simple Interest on ₹3000 on rate 7% for 3 years = ₹630

Extra Information:

• Principal is the money borrowed. It is also called sum.
• Interest is the additional money paid by the borrower.
• Amount is total money paid by the borrower (Principal + Interest).
• Formulas used in Simple Interest:

$1.\;\; P=\frac{100\times SI}{R \times T}\\\\2.\;\; R=\frac{100\times SI}{P\times T}\\\\3.\;\; T=\frac{100\times SI}{R\times P}$