Interest is calculated using the below formula T - F I - P - n n -1-12- r -100Where P is sum depositedn is number of month r is rate of interest per year-A- FalseB- True

The correct option is A False The correct formula for interest is I = P × N (n+1)/2 × 12×r/100 ...

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Byju's Answer

Standard X

Mathematics

Interest is c...

Question

Interest is calculated using the below formula (T/F)
I= $\frac{P \times n (n + 1)}{12} \times \frac{r}{100}$
Where P is sum deposited
n is number of month
r is rate of interest per year.

True

No worries! We‘ve got your back. Try BYJU‘S free classes today!

False

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is B
False

The correct formula for interest is
I = $\frac{P \times N (n + 1)}{2 \times 12} \times \frac{r}{100}$

Suggest Corrections

Similar questions

Q. The mathematical formula for calculating simple interest is

S I = P \times R \times T

where as.

R

= Percentage Rate of interest.

Is the formula. " P*R*T/100" used to calculate interest for savings account?

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 $= \frac{T \times P \times R}{100}$

Q. Using the formula , calculate the amount and the compound interest :-

P = R s . 500, R = 12 %

per annum,

n = 2

years

Question 58

The compound interest on a sum of Rs P for T years at R% per annum compounded annually is given by the formula P $(1 + \frac{R}{100})$

Join BYJU'S Learning Program

Interest is calculated using the below formula (T/F) I= P×n(n+1)12×r100 Where P is sum deposited n is number of month r is rate of interest per year.

The correct option is B False The correct formula for interest is I = P×N(n+1)2×12×r100

Interest is calculated using the below formula (T/F)
I= $\frac{P \times n (n + 1)}{12} \times \frac{r}{100}$
Where P is sum deposited
n is number of month
r is rate of interest per year.

The correct option is B
False

The correct formula for interest is
I = $\frac{P \times N (n + 1)}{2 \times 12} \times \frac{r}{100}$