Maths-
General
Easy

Question

A sum of Rs. 4,000 is lent for 5 years at the rate of 15% per annum. Find the simple interest.?

hintHint:

Use the formula of simple interest and then proceed.

The correct answer is: 3000 Rupees.


    Complete step by step solution:
    We calculate simple interest by the formula,S I equals fraction numerator P T R over denominator 100 end fraction…(i)
    where P is Principal amount, T is number of years and R is rate of interest
    Let the sum of money P = 4000 Rs
    Here, we have T = 5,R = 15% and P = 4000
    On substituting the known values in (i), we get S I equals fraction numerator 4000 cross times 5 cross times 15 over denominator 100 end fraction
    not stretchy rightwards double arrow S I equals fraction numerator 4000 cross times 5 cross times 15 over denominator 100 end fraction equals 3000
    We have simple interest SI = 3000 Rupees.

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