Arithmetic
Additive Identity
Arithmetic Progression
Associative Property
Averages
Brackets
Closure Property
Commutative Property
Conversion of Measurement Units
Cube Root
Decimal
Distributivity of Multiplication over Addition
Divisibility Principles
Equality
Exponents
Factors
Fractions
Fundamental Operations
H.C.F / G.C.D
Integers
L.C.M
Multiples
Multiplicative Identity
Multiplicative Inverse
Numbers
Percentages
Profit and Loss
Ratio and Proportion
Simple Interest
Square Root
Unitary Method
Algebra
Cartesian System
Order Relation
Polynomials
Probability
Standard Identities & their applications
Transpose
Geometry
Basic Geometrical Terms
Circle
Curves
Angles
Define Line, Line Segment and Rays
Non-Collinear Points
Parallelogram
Rectangle
Rhombus
Square
Three dimensional object
Trapezium
Triangle
Quadrilateral
Trigonometry
Trigonometry Ratios
Data-Handling
Arithmetic Mean
Frequency Distribution Table
Graphs
Median
Mode
Range

Videos
Solved Problems
Home >> Simple Interest >>

Find simple interest

Amount Compound Interest Difference between Simple & Compound Interest

Simple Interest is dependent on :

1. Principal
2. Rate of Interest
3. Time Period

So, 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 1000
Time = 2 years
Rate of interest = 5%

Simple Interest = (PRT) / 100
Simple Interest = (1000 X 2 X 5) / 100
Simple Interest = Rs 100



Problem 2 - Find interest on Rs 2000 for 2.5 years at 10% rate
Answer
Principal = Rs 2000
Time = 2.5 years
Rate of interest = 10%

Simple interest = (PRT) / 100
Simple interest = (2000 X 2.5 X 10) / 100
Simple interest = Rs 500

Copyright@2022 Algebraden.com (Math, Algebra & Geometry tutorials for school and home education)