that the interest is incurred simply on the principal amount
Simple interest is interest that is calculated each year as a fixed percentage of the original amount of money borrowed or invested .
Formula:
,
where P = initial amount , R = rate of interest , T = time
where P = principal or initial amount , I = rate of interest in decimal form , N = time or duration
Illustration: Mr Bector deposited a sum of Rs 5596 at a simple interest for 5 years at 10% rate of interest. Find Simple interest and the Amount.
Solution : P = 5596 Rs.
R = 10 %
T = 5 Years
Amount = P + SI = 5596 + 2798 = 8394 Rs
Illustration: Find the simple interest payable on an investment of $ 20000 at 12% p.a. over a period of 4 years ?
Solution : here P = 20000 , R = 12% which is also 0.12 , N = 4
now , SI = PIN
SI = 20000 0.12 4 = 9600
So the simple interest is $9600
A certain amount x was deposited for 4 yr and 3 months at 3% simple interest and amounts to Rs. 5412. Then, x is equal to ___________________ | |||
Right Option : A | |||
View Explanation |
If a sum doubles in four years at the rate of R% per annum simple interest, then 3R= _________ . | |||
Right Option : C | |||
View Explanation |
A sum of Rs 8000 is borrowed for 4 years at 12% per annum simple interest. How much money is to be returned at the end of 4 years. | |||
Right Option : A | |||
View Explanation |
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About Abhyas metholodology the teachers are very nice and hardworking toward students.The Centre Head Mrs Anu Sethi is also a brilliant teacher.Abhyas has taught me how to overcome problems and has always taken my doubts and suppoeted me.
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Usually we see institutes offering objective based learning which usually causes a lag behind in subjective examinations which is the pattern followed by schools. I think it is really a work of planning to make us students grab the advantages of modes of examination, Objective Subjective and Onli...
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Abhyas institute is one of the best coaching institute in the vicinity of Ambala cantt.The institute provides good and quality education to the students.The teachers are well experienced and are very helpful in solving the problems. The major advantages of the institute is extra classes for weak...
My experience with Abhyas academy is very good. I did not think that my every subject coming here will be so strong. The main thing is that the online tests had made me learn here more things.
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My experience with Abhyas Academy has been very good. When I was not in Abhyas whenever teacher ask questions I could not speak it confidently but when I came in Abhyas, my speaking skills developed and now I am the first one to give the answer of teachers question.
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It was a good experience with Abhyas Academy. I even faced problems in starting but slowly and steadily overcomed. Especially reasoning classes helped me a lot.
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Abhyas Methodology is very good. It is based on according to student and each child manages accordingly to its properly. Methodology has improved the abilities of students to shine them in future.