Question

Find the simple interest on Rs $900$ for $3$ years $4$ months at $5\%$ per annum. Find the amount also.

Answer 1

$P=$Rs.$900$,

$R=5\%$ p.a.

$T=$ years $4$ months $=\frac{40}{12}$ years $=\frac{10}{3}$ years

$\therefore$, S.I $=\frac{P\times R\times T}{100}=\frac{900\times 5\times 10}{100\times 3}=$Rs.$150$

Amount $=P+S.I=900+150=$Rs.$1050$