Simple Interest Calculation
This question requires calculating the Simple Interest (SI) based on the given principal amount, rate, and time.
Key Information
- Principal (P): ₹75,000
- Rate (R): 5% per annum
- Time (T): 5 years
Simple Interest Formula
The formula to calculate simple interest is:
$SI = (P × R × T) / 100$
Where:
- $P$ is the Principal amount
- $R$ is the Rate of interest (in percent per annum)
- $T$ is the Time period (in years)
Calculation Steps
- Substitute the values into the formula:
$SI = (75,000 × 5 \text{ %} × 5) / 100$
- Simplify the expression:
$SI = (75,000 × 25) / 100$
- Calculate the final amount:
$SI = 750 × 25$
$SI = 18,750$
Result
The calculated Simple Interest is ₹18,750.
Important Questions from Simple Interest
Anil lent a sum of Rs. 5,000 on simple interest for 10 years in such a way that the rate of interest is 6% per annum for the first 2 years, 8% per anmum for the next 2 years and 10% per annum beyond 4 years. How much interest (in Rs.) will he earn at the end of 10 years?
What will be the simple interest on a sum of Rs. 12000 at the rate of 15 percent per annum for three years ?
If in 13 years fixed sum doubles at simple interest, what will be the interest rate per year? (correct to two decimal places)
On simple interest a sum of Rs. 640 becomes Rs. 832 in 2 years. What will Rs. 860 become in 4 years at the same rate of simple interest?
A certain sum amounts to Rs. 81840 in 3 years and to Rs. 92400 in 5 years at x% p.a. under simple interest. If the rate of interest is becomes (x + 2)%, then in how many years will the same sum double itself?
