10,000 is invested at 5% interest rate p.a. Find the interest at the end of one year

Academic Mathematics NCERT Class 7

Given:

Principal = 10,000

Rate= 5% p.a

T = 1 year

To find: the interest at the end of one year

Solution:

Simple Interest = $\frac{P\times R\times T}{100}$

Substituting the values in the above formula, we get

= $\frac{10,000\times 5\times 1}{100}$

=$ Rs\ 500$

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Updated on: 10-Oct-2022

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