Question

simple interest on rs 2500 for 2 yrs 6 months at 6% per annum.. how to change the time?

Answer 1

Given - Principal, rate and time

Find - Change the time

Solution - To change the time, we will firstly convert months into year.

As per the known fact, 12 months = 1 year

6 months = $\frac{1 \times 6}{12}$

Performing division

6 months = $\frac{1}{2}$ years

Now, total time = $2 + \frac{1}{2}$

Performing division

Total time = $2 + 0.5$

Performing addition

Total time = 2.5 years

Now, calculating Simple Interest

Interest = Principal*rate*time/100

Interest = 2500*2.5*6/100

Performing multiplication

Interest = 37,500/100

Performing division

Interest = Rupees 375

Therefore, time in years in 2.5 years and Interest will be Rupees 375.