Question

Find the simple interest on $₹278$ for $5$ years at $10\%$ per annum$.$

Answer 1

Step $1:$To find the Simple Interest .

Given$,$

Principal amount $P=$$₹278$

Number of years $=$$5$

Rate per annum $=$$10\%$

Step $2:$ Now find simple interest using formula

$S.I.=\frac{P\times R\times T}{100}$

$S.I.=\frac{278\times 5\times 10}{100}$

$S.I.=\frac{1390\times 10}{100}$

$S.I.=139$$,$ Cancel $100$ from numerator and denominator

Hence, the simple interest is $₹139$