Maths-
General
Easy
Question
A sum of Rs. 4,000 is lent for 5 years at the rate of 15% per annum. Find the simple interest.?
Hint:
Use the formula of simple interest and then proceed.
The correct answer is: 3000 Rupees.
Complete step by step solution:
We calculate simple interest by the formula,…(i)
where P is Principal amount, T is number of years and R is rate of interest
Let the sum of money P = 4000 Rs
Here, we have T = 5,R = 15% and P = 4000
On substituting the known values in (i), we get
We have simple interest SI = 3000 Rupees.
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