Vinita deposited Rs. 15000 in a bank for one year at an interest rate of 7 p.c. p.a. How much interest will she get at the end of the year?
Let us suppose that the interest on the principal of Rs. 15000 is x.
On principal Rs. 100, the interest is Rs. 7.
`x/(15000) = 7/100`
`x/(15000) xx 15000 = 7/100 xx 15000`.......(Multiplying both sides by 15000)
x = 1050
Vinita will get an interest of Rs. 1050.