Question

The interest on Rs. 3000 at 11% p.a for 2
$\frac{1}{3?}$
by 3
years is

​

Answer 1

Given:

Rs. 3000 at 11% p.a for 2$\frac{1}{3}$  years

To find:

The interest

Solution:

The sum of money, P = Rs. 3000

The rate of interest, R = 11% p.a.

The no. of years, T = 2$\frac{1}{3}$  years = $\frac{7}{3} \:years$

We know,

$\boxed{\bold{Simple\:Interest = \frac{PRT}{100} }}$

Now, on substituting the given values in the formula above, we get

$S.I. = \frac{3000 \times 11 \times \frac{7}{3} }{100} = \frac{1000 \times 11 \times 7 }{100} = Rs. \:770$

Thus, the interest on Rs. 3000 at 11% p.a for 2$\frac{1}{3}$  years is → Rs. 770.

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