Question
Find the simple interest on 280naire for two and half years at 3% per annum
Answers
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Simple interest = (P x R x T)/100
Where,
P = Principal amount = 280 naire
R = Rate of interest per annum = 3%
T = Time period = 2.5 years
Putting the values in the formula, we get:
Simple interest = (280 x 3 x 2.5)/100
= 21 naire
Therefore, the simple interest on 280 naire for two and half years at 3% per annum is 21 naire.
Where,
P = Principal amount = 280 naire
R = Rate of interest per annum = 3%
T = Time period = 2.5 years
Putting the values in the formula, we get:
Simple interest = (280 x 3 x 2.5)/100
= 21 naire
Therefore, the simple interest on 280 naire for two and half years at 3% per annum is 21 naire.