Question

Calculate the simple interest
on
1200 at 7% Per
annum for three years

Answer 1

Given:

Principal value = 1200

Rate of interest = 7% per annum

Time = 3 years

To find:

The simple interest for three years.

Solution:

The formula for simple interest is:

`S.I.=(P* r* t)/(100)`

Where, P is the principal value, r is the rate of interest in percentage and t is time in years.

Putting
`P=1200,r=7,t=3` in the above formula, we get

`S.I.=(1200* 7* 3)/(100)`

`S.I.=12* 7* 3`

`S.I.=252`

Therefore, the simple interest for three years is 252.