Question

What would be the annual interest accused on the deposit of ₹ 10000 in a bank that pay 4% per annum rate of interest

Answer 1

Answer:

The Annual Interest will be Rs. 400.

Step-by-step explanation:

Principal = ₹ 10000

Rate = 4% p.a

Time = 1 yr

Simple Interest = (P*R*T)/100

= ₹ (10000*4*1)/100

= ₹400

Hope this helps.