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Interest

Question 64In...

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Question 64

In questions 60 to 79, state whether the statements are True or False.
The simple interest on a sum of Rs. P for T yr at R % per annum is given by the formula
Simple Interest $= \frac{T \times P \times R}{100}$

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Solution

True
$S I = \frac{P \times R \times T}{100}$
We can also write it as, $S I = \frac{T \times P \times R}{100}$ [since, multiplication is commulative]

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Q. Write 'T' for true and 'F' for false

(i) Simple interest on Rs x for x years is Rs x. Then, the rate of interest is x% per annum.
(ii) Rate =

\frac{100 \times SI}{P \times T}

.
(iii) A sum doubles itself at simple interest at 10% per annum in 10 years.
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Q. Write a Python program to calculate the amount payable if money has been lent on simple interest.
Principal or money lent = P, Rate of interest = R% per annum and Time = T years. Then Simple Interest (SI) = (P x R x T)/ 100.
Amount payable = Principal + SI. P, R and T are given as input to the program.

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