Question

Find the simple interest on $Rs.2,500$ for $4$ years at $6\frac{1}{4}$% per annum.

Answer 1

Given : $P=2500,R=6.25$%, $T=4$years

$S.I.=\frac{PRT}{100}=\frac{2500\times 6.25\times 4}{100}=650$

Therefore, the simple interest is $Rs.650$.