Table of Contents
- Example
- Summary
- What’s Next?
In the previous segment, we had a look at the calculation of Simple Interest. In this segment
of the chapter ‘Comparing Quantities’, we will see an example to solve simple interest.
Simple Interest – Example
Q. Find the simple interest on ₹ 700 for 3 years at 6% per annum and also the
amount.
Solution:
Principal(P) = ₹ 700
Time(N) = 3 years
Rate of interest(R) = 6% per annum
Simple Interest = ?????????×???? (?????)×???? = ?×?×?
100
100
= 700×3×6 = ₹ 126
100
Amount = Principal + Interest
700 + 126 = ₹ 826
Summary
Simple Interest |
????????? × ???? (?????) × ???? 100 |
What’s next?
Related content
Computing Simple Interest |
Compound Interest |