Question

Simple interest on rupees 1000 at 5% per annum for 73 days is rupee 10​

Answer 1

Answer:

The simple interest of a loan for Rs. 1,000 with 5 % interest after 3 years is Rs. 150.

Step-by-step explanation:

Simple interest can be calculated using the formula S.I. = ( P × R × T),

where P = Principal amount of loan,

R = Rate of interest per annum in %,

and, T = Time (in years)

As per the question,

P = Rs.1,000, R = 5% = 0.05, T = 3

⇒ S.I = 1000 × 5% × 3

⇒ S.I = 1000 × (5/100) × 3

⇒ S.I = Rs. 150

Simple interest can be calculated using the simple interest calculator.

Thus, the simple interest on a loan of Rs 1,000 with 5 % interest after 3 years is Rs 150.