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Solved Problems
Home >> Simple Interest >>

## Find simple interest

 Amount Compound Interest Difference between Simple & Compound Interest

 Simple Interest is dependent on :1. Principal2. Rate of Interest3. Time PeriodSo, we get the following Formula : Simple Interest = (Principal X Rate X Time) / 100 OR SI = (PRT) / 100 Let solve following problems for further understanding:Problem 1 - Find interest on Rs 1000 for 2 years at 5% rate Answer -Principal = Rs 1000Time = 2 yearsRate of interest = 5%Simple Interest = (PRT) / 100Simple Interest = (1000 X 2 X 5) / 100Simple Interest = Rs 100Problem 2 - Find interest on Rs 2000 for 2.5 years at 10% rate AnswerPrincipal = Rs 2000Time = 2.5 yearsRate of interest = 10%Simple interest = (PRT) / 100Simple interest = (2000 X 2.5 X 10) / 100Simple interest = Rs 500

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