Question

What is the simple interest on Rs. 100 @1% per annum for one year?

Answer 1

Answer:

Rs. 1

Step-by-step explanation:

interest = P × T × R÷100

where:

P = Principal

T = Time

R = Rate

From the question;

The principal = Rs.100

rate = 1 percent

Time = per annum ( 1 year)

so; interest =

100 × 1 × 1÷ 100

100 ÷ 100 = 1

Therefore the interest is Rs. 1