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
If ₹12,800 is invested in a bank for 5 years at the rate of 9% per annum simple interest. what amount is returned by the bank?
Somu has borrowed ₹10,000 from a money lender with simple interest at a rate of 7% half yearly. How much amount will he pay to the money lender after 3 years?
Find the Simple interest on Rs. 2,400 from 20 March 2019 to 31 may 2019 at \(6{1 \over 4}\) % rate?
If the simple interest for five years is equal is 35% of the principal, that rate of interest is:
A sum fetched a simple interest of Rs. 3,040 at the rate of 8% p.a in 5 years. what is the sum?
