Aptitude Day 184

Simple Interest:

Introduction:

Simple Interest, SI = PTR/100

where  P = Principal.

           T = Time (years).

           R = Rate (per annum or p.a.). 

  

Problem:

Find the simple interest on 30,000 at 2/3 % per annum for 6 months.

Solution:

                 T = 6/12 = 1/2 Years

                 S.I = PTR/100

                       = [30000*1/2*2/3]/100

                       = 100.