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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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