Question
Download Solution PDFThe simple interest for the amount of Rs. 1000 at 6% rate for 3 years is:
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFConcept:
Simple interest = \(\frac{P~\times~R~\times~T}{100}\)
P = principal, R = rate of interest, T = time
Calculation:
Given:
P = Rs 1000, R = 6 %, T = 3 years
∵ Simple interest = \(\frac{P~\times~R~\times~T}{100}\)
⇒ Simple interest = \(\frac{1000~\times~6~\times~3}{100}\)
⇒ Simple interest = Rs 180
Last updated on May 28, 2025
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