Question

Calculate the simple interest on Rs.$6400$ for $6$ months at the rate of $10\%$ per annum .

Answer 1

If $P$ be any sum and $r\%$ be its rate of Interest per annum for $t$ years, then interest in $t$ years be

Interest $I=\frac{Ptr}{100}$

Given that the sum $=6400$

Time $=6$ months $=\frac{1}{2}$ year

Rate .$=10\%p.a$

So, interest in $6$ months

$=\frac{Sum\times Time\times Rate}{100}$

$=\frac{6400\times {\displaystyle \frac{1}{2}}\times 10}{100}$

$=Rs320$

Therefore, the simple interest on Rs $6400$ for $6$ months at the rate of$10\%$ per annum is $Rs320$ .