MathsComparing QuantitiesSimple InterestSimple Interest – Example 1

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

    Register to Get Free Mock Test and Study Material



    +91

    Verify OTP Code (required)

    I agree to the terms and conditions and privacy policy.

    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?

    Chat on WhatsApp Call Infinity Learn

      Register to Get Free Mock Test and Study Material



      +91

      Verify OTP Code (required)

      I agree to the terms and conditions and privacy policy.