Simple Interest
Simple Interest
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 a sum doubles in four years at the rate of R% per annum simple interest, then 3R= _________ . | |||
| Right Option : C | |||
| View Explanation | |||
Find the rate of interest at which a sum of Rs. 800 amounts to Rs. 920 in 3 years at simple interest. | |||
| Right Option : A | |||
| View Explanation | |||
A sum of Rs. 2000 is borrowed for 6 years at 10% per annum simple interest. How much money is to be returned at the end of 6 years? | |||
| Right Option : C | |||
| View Explanation | |||
Students / Parents Reviews [20]
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Cheshta
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Manish Kumar
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Shivam Rana
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Ayan Ghosh
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8thOne of the best institutes to develope a child interest in studies.Provides SST and English knowledge also unlike other institutes. Teachers are co operative and friendly online tests andPPT develope practical knowledge also.
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Hiya Gupta
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Barkha Arora
10thThird consective year,my ward is in Abhyas with nice experience of admin and transport support.Educational standard of the institute recumbent at satisfactory level. One thing would live to bring in notice that last year study books was distributed after half of the session was over,though study ...
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8thMy experience with Abhyas academy is very nice or it can be said wonderful. I have been studying here from seven class. I have been completing my journey of three years. I am tinking that I should join Abhyas Academy in tenth class as I am seeing much improvement in Maths and English
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Aman Kumar Shrivastava
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10thIn 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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10thUsually 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...
