The simple interest on a sum of Rs 5400 at the rate of 10/3% p.a. for 2 years is:
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To Find :-
- Simple interest.
Solution :-
Given,
- Principal (P) = Rs. 5400
- Rate of interest (R) = 10/3%
- Time (T) = 2 years
As we know that,
Simple interest = P × R × T / 100
[ Put the values ]
⟶ S.I = 5400 × 10/3 × 2 / 100
⟶ S.I = 1800 × 10 × 2 / 100
⟶ S.I = 1800 × 20 / 100
⟶ S.I = 36000 / 100
⟶ S.I = 360
⟶ S.I = Rs. 360
Therefore,
The simple interest is Rs. 360.
For information :-
- A = P(1 + R/100)^t
- Interest = Amount - Principal
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