SIMPLE INTEREST
SOME BASIC FORMULA E
1) If P stands for Principal, R the rate per cent per annum. T the number of years, SI the simple interest and A the amount, then
Example: On what sum of money lent out at 9% per annum simple interest for 6 years does the simple interest amount Rs 810?
Solution :
2)
Example: A sum when reckoned at simple interest 2 1/2 % per annum amounts to Rs 630 after 2 years. Find the sum.
Solution :