Question

At the rate of 6% yearly simple interest, what will be the interest on Rs. 600 for 5 years?

Hint:

To calculate simple interest, use the formula \( I = \frac{P \times R \times T}{100} \), where \( P \) is principal, \( R \) is rate, and \( T \) is time.

Answer 1

Step 1: Use the formula for simple interest: \[ I = \frac{P \times R \times T}{100} \] Where: \( P = 600 \), \( R = 6% \), and \( T = 5 \) years.
Step 2: Calculate the interest. \[ I = \frac{600 \times 6 \times 5}{100} = \frac{18000}{100} = 180 \] Step 3: Conclusion. The interest on Rs. 600 for 5 years at 6% simple interest is Rs. 180.