Question

What is the interest on Rs 100 for 2 years att 10 p.c.p.a.

Answer 1

P=100. T=2. R=10.
I=PRT/100=100×10×2/100=20
Intrest is rs.20.

Answer 2

Given,

Principal amount (P) = Rs. 100

Rate = 10% per annum

Time = 2 years

To find,

The interest on the rate of 10% per annum for 2 years.

Solution,

The interest on Rs. 100 for 2 years at 10% per annum is Rs. 20.

We can easily solve this problem by following the given steps.

Now,

Simple Interest (SI) = Principal (P) × Rate (R) × Time (T)/100

SI = P×R×T/100

SI = 100 × 10 × 2/100

SI = 2000/100

SI = Rs. 20

Hence, the simple interest will be Rs. 20.

(The amount after interest will be the sum of the principal amount and simple interest. The formulas to calculate compound interest are different from that of simple interest.)