Answered

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calculate the simple interest
on
1200 at 7% Per
annum for three years

Sagot :

Given:

Principal value = 1200

Rate of interest = 7% per annum

Time = 3 years

To find:

The simple interest for three years.

Solution:

The formula for simple interest is:

[tex]S.I.=\dfrac{P\times r\times t}{100}[/tex]

Where, P is the principal value, r is the rate of interest in percentage and t is time in years.

Putting [tex]P=1200,r=7,t=3[/tex] in the above formula, we get

[tex]S.I.=\dfrac{1200\times 7\times 3}{100}[/tex]

[tex]S.I.=12\times 7\times 3[/tex]

[tex]S.I.=252[/tex]

Therefore, the simple interest for three years is 252.

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