Question

Find the simple interest on RS.2500 for 2 years and 6 months at 3% per annum.Also find the amount.

Answer 1

187.50

simple interest (I ) = PRT

where P is the Principle ( amount deposited ), R is the rate of interest and T the time in years

here P = 2500, R = 3% and T = 2.5 years

I = 2500 ×
`(3)/(100)` × 2.5

= 25 × 3 × 2.5 = 187.50