Find the simple interest on Rs. 3,500 at 10% p.a. for 7 years.
- ARs. 2,450
- BRs. 2,500
- CRs. 3,000
- DRs. 2,050
Solution & Step-by-step Explanation
Given:
Principal (P) = Rs. 3,500
Rate of interest (R) = 10% per annum
Time (T) = 7 years
The formula for Simple Interest (SI) is:
SI=
100
P×R×T
SI=
100
3500×10×7
SI=35×10×7=2450
Thus, the simple interest is Rs. 2,450.
Principal (P) = Rs. 3,500
Rate of interest (R) = 10% per annum
Time (T) = 7 years
The formula for Simple Interest (SI) is:
SI=
100
P×R×T
SI=
100
3500×10×7
SI=35×10×7=2450
Thus, the simple interest is Rs. 2,450.