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Question
What would be the simple interest at the rate of `9 1/2%` per annum on Rs. 6000 for `2 1/2` years?
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Solution
Rate of interest per annum R = `9 1/2%` = `19/2%`
Principal P = ₹ 6000
Duration T = `2 1/2 = 5/2` years
∴ Simple Interest,
I = `"PRT"/100 = 6000 xx 19/2 xx 5/2 xx 1/100`
= 15 × 19 × 5
= 1425
∴ The simple interest would be ₹ 1425.
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