Question

State true or false, The simple interest of $3$ years at $9\% $ p.a. of $Rs.5000$ is $Rs.1350.$
${\text{A}}{\text{.}}$ True
${\text{B}}{\text{.}}$ False

Answer 1

Hint: To solve such question use the concept of Simple interest that is calculated on the initial amount that is borrowed i.e. $S.I = \dfrac{{P \times R \times T}}{{100}}$

Complete step-by-step answer:

As per the question, it is given that
Principal $\left( P \right)$$ = Rs.5000$
Rate $\left( R \right)$$ = 9\% pa$
Time $\left( T \right)$$ = 3years$

We have known that, for calculating the simple interest we have a formula, that is
$S.I = \dfrac{{P \times R \times T}}{{100}}$

Simple Interest $ = \dfrac{{5000 \times 9 \times 3}}{{100}}$

Simple Interest $ = Rs.1350$

Hence, the given statement is true.

Note: In this question, use the concept of Simple interest which is a quick and easy method of calculating the interest charge on a loan. Simple interest is determined by multiplying the daily interest rate by the principal by the number of days that elapse between payments.