Question

What will be the simple interest on Rs. 800 at 5% per year for 4 years ?​

Answer 1

Answer:

160

Step-by-step explanation:

by using PxTxR/100 formula the simple intrest is 160

Answer 2

Answer:

The answer is 160

Calculating the amount of interest that will be charged on a loan can be done quickly and easily using the simple interest calculation. The daily interest rate, the principle, and the number of days among payments are multiplied to calculate simple interest.

step-by-step explanation:

Simple interest is calculated using the formula S.I. = P*R*T, where P remains for the principal, R for the yearly percentage rate of interest, and T for time, which is usually given as the couple of years. The interest rate is given as a percentage of r% and as r/100.

Principal: The principal is the sum that was first invested or acquired from the bank. P stands for the principal.

Rate: Rate is the interest rate at which the principal sum is delivered to anyone for a specific period of time; examples of rates of interest include 5%, 10%, and 13%. R stands for the interest rate.

Time: The amount of time that the principal is given to anyone. T represents time.

Amount: When a borrower repays a bank loan, the term "Amount" refers to the sum of the principal taken plus the interest paid.

$S.I=\frac{principle*interest*time}{100}$

Principal amount = Rs. 800

Rate of interest = 5% p.a.

Time = 4 years

$Simple Interest=\frac{800*4*5}{100}$

                         $=160$

∴ the simple interest on Rs. 800 at 5% per year for 4 years is 160

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