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
If the rate of simple interest is 12% per annum the amount that would fetch interest of Rs.6000 per annum is _______________________ | |||
Right Option : C | |||
View Explanation |
If the simple interest on a sum of money at 6% per annum for 2yr is Rs. 12. What is the sum of money ? | |||
Right Option : A | |||
View Explanation |
A sum of money was lent at simple interest at 11% p.a for years and years respectively. If difference interests for two periods was Rs.5500, that the sum is _________________________ | |||
Right Option : C | |||
View Explanation |
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In terms of methodology I want to say that institute provides expert guidence and results oriented monitering supplements by requsite study material along with regular tests which help the students to improve their education skills.The techniques of providing education helps the students to asses...
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Abhyas institute is one of the best coaching institute in the vicinity of Ambala Cantt area. The teachers of the institute are well experienced and very helpful in solving the problems of the students.The good thing of the institute is that it is providing extra classes for the students who are w...
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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...
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.
I have spent a wonderful time in Abhyas academy. It has made my reasoning more apt, English more stronger and Maths an interesting subject for me. It has given me a habbit of self studying
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