Question

Find the Interest on $₨7000$ at $9\%$ p.a. for $6$ years.

Answer 1

Given:

Principal $=₨7000$

Rate of Interest $=9\%$ p.a

Time$=6$years

We know that

Simple interest $=\frac{\mathrm{P}\times \mathrm{R}\times \mathrm{T}}{100}$

Then,

Simple interest $=\frac{7000\times 9\times 6}{100}$
$$\begin{gathered} =70\times 9\times 6 \\ =3780 \end{gathered}$$

Hence, the interest is $₨3780$.