Question
Download Solution PDFIf the principal amount is Rs 50000 and the rate is 2% for 4 years then calculate the simple interest.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGIVEN:
Time = 4 years
Interest rates = 2% p.a.
Principal = Rs. 50,000
FORMULA USED:
SI = (PTR)/100
Where, P = Principal Amount
R = Interest rate
T = Time for which interest is applied on the amount
CALCULATION:
SI = (50000 × 2 × 4)/100
⇒ SI = 4000
The answer is 4000.
Last updated on Jan 29, 2025
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