Question

what is the simple interest on Rs7150 at 5% per annum for 8 months?
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Answer 1

Answer:

₹238.34

Step-by-step explanation:

Simple Interest = Principle Amount ×Rate of Interest×Time period

S.I. = 7150×5×8/100×12

S.I. = ₹238.34

Answer 2

The simple interest is, ₹238.34.

What is the formula to find simple interest?

• Simple interest is calculated with the following formula: S.I. = P × R × T.
• Where P = Principal, R = Rate of Interest in % per annum, and T = Time, usually calculated as the number of years.
• The rate of interest is in percentage r% and is to be written as r/100.

How do you calculate simple interest annually?

• r = R/100 = 3.875%/100 = 0.03875 per year.
• The total amount accrued, principal plus interest, from simple interest on a principal of $10,000.00 at a rate of 3.875% per year for 5 years is $11,937.50.

According to the question:

Simple Interest = Principle Amount ×Rate of Interest×Time period.

S.I. = 7150×5×8/100×12.

S.I. = ₹238.34.

Hence,  the simple interest are ₹238.34.

Learn more about  simple interest here,

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