Question

What is the interest on RS. 1000 at 10 p.c.p.a for 1 year.​

Answer 1

Interest wil be 10% of 100 which is 10

So, interest will be Rs.10

And total amount to be payed will be 100+10 which is Rs.110

Answer 2

Interest= Rs. 10

Explanation:

Interest of Rs.100 on 10 p.c.p.a is 10% of 100

i.e., 100*10/100 = 10

Thus we have 10 as the interest