The simple interest on ₹ 1000 for a period of 5 years @ 7% per annum is .

₹ 350

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₹ 170

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Solution

The correct option is A ₹ 350
Simple Interest=SI = $\frac{P \times T \times R}{100}$

Principal =P = ₹ 1000,
Time in years =T = 5 years,
Rate of Interest =R = 7% per annum.

SI = $\frac{1000 \times 7 \times 5}{100}$ = ₹ 350

Hence, SI = ₹ 350

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Similar questions

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.
(iv) Simple interest on Rs 1000 at 5% per annum for 73 days is Rs 10.

Calculate the simple interest on ₹1000 for a period of 5 years at 7% interest per annum.

Q. The compound interest on a certain sum of money at 4% per annum for 2 years is Rs.306. Calculate the simple interest on the same sum for 5 years and 7% per annum.

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.
(iv) Simple interest on Rs 1000 at 5% per annum for 73 days is Rs 10.

A man invested ₹ 1000 for 3 years at 11per cent simple interest per annum and ₹1000 at 10 % compounded interest per annum compounded annually for three years. Find which investment is better.

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The simple interest on ₹ 1000 for a period of 5 years @ 7% per annum is .

The correct option is A ₹ 350Simple Interest=SI = P×T×R100 Principal =P = ₹ 1000, Time in years =T = 5 years, Rate of Interest =R = 7% per annum. SI = 1000×7×5100 = ₹ 350 Hence, SI = ₹ 350

The correct option is A ₹ 350
Simple Interest=SI = $\frac{P \times T \times R}{100}$

Principal =P = ₹ 1000,
Time in years =T = 5 years,
Rate of Interest =R = 7% per annum.

SI = $\frac{1000 \times 7 \times 5}{100}$ = ₹ 350

Hence, SI = ₹ 350