Question

Simple interest on * 500 at a certain rate for 2 years is * 100. Find the
simple interest of the same amount of money, at the same rate for 5 years.​

Answer 1

Solution!!

Given that the simple interest on Rs 500 for 2 years is Rs 100.

P = Rs 500

T = 2 years

R = ?

SI = Rs 100

SI = (P × R × T)/100

100 = (500 × R × 2)/100

100 = 1000R/100

100 = 10R

R = 10% p.a.

Now, we have to calculate the simple interest when,

P = Rs 500

R = 10% p.a.

T = 5 years

SI = (P × R × T)/100

SI = (500 × 10 × 5)/100

SI = 25000/100

SI = Rs 250

Abbreviations used:-

P → Principal

T → Time

R → Rate of interest

SI → Simple interest