Simple Interest – Example 1

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?