Simple Interest: BY: Komal Kotak Mba 3 Sem
Simple Interest: BY: Komal Kotak Mba 3 Sem
Simple Interest: BY: Komal Kotak Mba 3 Sem
BY:
KOMAL KOTAK
MBA 3RD sem.
Principal:
The money borrowed or lent out for a certain
period
Interest:
Extra money paid for using other’s money.
Simple interest:
If the interest on a sum borrowed money for
a certain period is reckoned uniformly , then
it is called simple interest.
S.I = P*R * T/100
1]Find the simple interest on Rs 68000 at 16 2/3 % per
annum for 9 months…
Soln:- p=68000
R=50/3 % p.a
T=9 months
S.I = p × R × T ÷100
= 68000×50/3×9/12 ÷100
=8500
2] A sum of Rs 800 amounts to Rs 920 in 3 years
at S.I. If the interest is increased by 3% , it would
amount to how much????