Question
Find the simple interest (in ₹) on ₹3500 as a sum
borrowed at 7% per year rate of interest for 6 years.Solution
Given: Principal = ₹3500 Rate = 7% per year Time = 6 years Formula: Simple Interest = (P × R × T) ÷ 100 = (3500 × 7 × 6) ÷ 100 = 147000 ÷ 100 = ₹1470
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