The simple interest on Rs 5000 for 3 years at the rate of 3% per annum is
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Step-by-step explanation:
answer is 450
Principal=Rs5000
Rate =3% per anum
Time = 3 years
Interest = PxRxT divided by 100
so 5000x3x3÷100
rest you can see in the photo
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Given:
Principal = Rs. 5000
Time period = 3 years
Rate of Interest = 3 %
To find:
Simple Interest
Solution:
The formula for simple interest is,
Simple interest, S.I = ( P× R× T )/100
P = Principal sum
R = Rate of interest
T = Time period
On putting the values of the principal sum, rate, and time in the formula for simple interest, we get,
S.I. = (5000 ×3 × 3) /100
S.I. = Rs. 450
The simple interest is Rs. 450.
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