Question

What sum will earn an interest of RS 480 in 2 .5 yes at the rate of3% per annum simple interest

Answer 1

Find an interest by using the formula I=P⋅i⋅t, where I is interest, P is total principal, i is rate of interest per year, and t is total time in years.

In this examplee P = $480, i = 3% and t = 2.5 years, so

I =P×R×T
I=480×3\100×2.5
I=36