Question

The S.I. of Rs 100 of 1 year at the rate of 3 paise per rupee per month is?

Answer 1

Answer:

SI=12

Step-by-step explanation:

SI =P×R×T

=100×12×1/100

=12

Answer 2

Given = Principal amount = Rs. 100

Time period = 1 year

Rate of interest = 3 paise per rupee per month

Find - Simple interest for given principal amount, time period and rate of interest.

Solution - Firstly calculating rate of interest per annum.

Interest for 1 Rupee = 3 paise

Interest for 100 Rupees = 3*100

Interest per month for Rs. 100 = 300 paise

Interest per month for Rs. 100 = Rs. 3

Interest per year = 3*12

Interest per year = Rs. 36

Therefore, simple interest earned = Rs. 36.