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What sum of money will yield Rs.60 as simple interest at 6% p.a. in 5 years.?
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What sum of money will yield Rs.60 as simple interest at 6% p.a. in 5 ...
Understanding Simple Interest
Simple Interest (SI) is calculated using the formula:
SI = (Principal × Rate × Time) / 100
Where:
- Principal is the initial amount of money
- Rate is the interest rate (in percentage)
- Time is the duration (in years)
Given Parameters
- Simple Interest (SI): Rs. 60
- Rate (R): 6% per annum
- Time (T): 5 years
Finding the Principal Amount
To find the Principal (P), we can rearrange the simple interest formula:
P = (SI × 100) / (R × T)
Substituting the known values:
- SI = 60
- R = 6
- T = 5
Calculating the Principal
Now, substitute the values into the formula:
- P = (60 × 100) / (6 × 5)
Calculating the denominator:
- 6 × 5 = 30
Now calculate the principal:
- P = 6000 / 30
- P = 200
Conclusion
The sum of money (Principal) that will yield Rs. 60 as simple interest at 6% per annum in 5 years is:
- Rs. 200
This calculation demonstrates how simple interest works and helps you understand how to determine the principal amount based on the interest earned, the rate of interest, and the time period involved.
Simple Interest (SI) is calculated using the formula:
SI = (Principal × Rate × Time) / 100
Where:
- Principal is the initial amount of money
- Rate is the interest rate (in percentage)
- Time is the duration (in years)
Given Parameters
- Simple Interest (SI): Rs. 60
- Rate (R): 6% per annum
- Time (T): 5 years
Finding the Principal Amount
To find the Principal (P), we can rearrange the simple interest formula:
P = (SI × 100) / (R × T)
Substituting the known values:
- SI = 60
- R = 6
- T = 5
Calculating the Principal
Now, substitute the values into the formula:
- P = (60 × 100) / (6 × 5)
Calculating the denominator:
- 6 × 5 = 30
Now calculate the principal:
- P = 6000 / 30
- P = 200
Conclusion
The sum of money (Principal) that will yield Rs. 60 as simple interest at 6% per annum in 5 years is:
- Rs. 200
This calculation demonstrates how simple interest works and helps you understand how to determine the principal amount based on the interest earned, the rate of interest, and the time period involved.
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What sum of money will yield Rs.60 as simple interest at 6% p.a. in 5 years.?
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What sum of money will yield Rs.60 as simple interest at 6% p.a. in 5 years.? for SSC CHSL 2025 is part of SSC CHSL preparation. The Question and answers have been prepared according to the SSC CHSL exam syllabus. Information about What sum of money will yield Rs.60 as simple interest at 6% p.a. in 5 years.? covers all topics & solutions for SSC CHSL 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What sum of money will yield Rs.60 as simple interest at 6% p.a. in 5 years.?.
What sum of money will yield Rs.60 as simple interest at 6% p.a. in 5 years.? for SSC CHSL 2025 is part of SSC CHSL preparation. The Question and answers have been prepared according to the SSC CHSL exam syllabus. Information about What sum of money will yield Rs.60 as simple interest at 6% p.a. in 5 years.? covers all topics & solutions for SSC CHSL 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What sum of money will yield Rs.60 as simple interest at 6% p.a. in 5 years.?.
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