Tutorial Examples of Simple Interest


Examples of Simple Interest


   

Example 1:
Find simple interest on Rs. 3000 at 7% rate of interest for one year.

Solution:
Let Principal = 3000
Rate of interest = 7%

Simple interest


Example 2:
Find simple interest on Rs. 10,000 at the rate of 5% for 5 years. Also find the amount for 5 years.

Solution:
Let Principal = 10,000 Rs.
Rate = 5%
Time

Amount of simple interest for 5 years is
Interest


Hence the amount after 5 years

Example 3:
Find simple interest on Rs. 156,00 for years at the rate of 5% per annum. Also find total amount.

Solution:
Let Principal = 15,600
Rate = 5%
Time = years
Simple interest for 5 years


Amount

Example 4:
Find simple interest on Rs. 8,000 for 40 days, at 10% per annum.

Solution:
Let Principal = 8,000 Rs.
Rate = 10% per annum
Time = 40 days
Simple interest



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