Find the simple interest, when Principal = Rs 1000, Rate of Interest = – InterviewSolution

InterviewSolution

1.

Find the simple interest, when Principal = Rs 1000, Rate of Interest = 10% per annum and Time = 73 days.

Answer»

Given Principal = Rs 1000, Rate of Interest = 10% per annum and

Time = 73 days = (73/365) days

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (1000 × (73/365) × 10)/100

SI = (1000 × 73 × 10)/100 × 365

= Rs 20

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