Question

the simple interest on ₹2000 for 7months at 5 paise per rupee per month is

Answer 1

since on 1 rs simple interest is 5 paise in 1 month
so, on 2000 rs ..it will be 0.05×2000=100 rs in 1 month
so, in 7 months it will be 7×100= rs700.
Thanks.

Answer 2

The simple interest is Rs. 700

Given:

The principal amount, P = ₹ 2000  

Time period, T = 7 months

Rate of interest, R = 5 paise per rupee per month  

To find:

The simple interest of ₹2000  

Solution:

From the data,

Principal amount = Rs.200

The rate of interest is 5 paise per rupee per month.

So, the interest in one month of Rs. 2000 will be,

= 2000 × 5

= 10000 paisa/month

= 100 rupees/month

​

So, the interest in 7 months will be equal to 100 Rs × 7

= 100 × 7 = Rs. 700  

Therefore,

The simple interest is Rs. 700

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