If the principal is ₹1000, the rate is 5% per annum, and the time is 2 years, what is the simple interest?
₹100
Simple interest is given by \(SI=\frac{P\times R\times T}{100}\).
Here \(P=1000\), \(R=5\) and \(T=2\).
Substituting: \(SI=\frac{1000\times 5\times 2}{100}=\frac{10000}{100}=100\).
Hence, the simple interest is ₹100.
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How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of simple interest ?
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If the interest on a sum of Rs.1200 is more than the interest on Rs.1000 by Rs.120 in three years, then what is the rate of interest per annum?.
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