Simple Interest Problems

Google Advertisements

Prev Tutorial Next Tutorial

Simple Interest Problems

Simple Interest is a quick method of calculating the interest charge on a loan. Simple interest is calculate by multiplying the daily interest rate by the principal by the number of days that elapse between payments.

Principal: The money borrowed or lent for a certain period is called Sum or Principal.

Interest: The extra money paid for the money borrowed is termed as Interest.

Rule : When interest is compound annually

Formula

S.I = (P * R * T)/100
Where P is principal
R is Rate of Interets
T is Number of Years

Simple Interest for D number of days, If P is Principle amount and R is Rate.

Formula

S.I = (P * R * D) / (100 * 365)

A sum of money amounts to Rs. 9800 after 5 yers and Rs. 12005 after 8 years at the same rate of simple interest. What is the rate of interest per annum ?

Solution

Solution : Simple interest for 8 years - Simple interest of 
5 years = Simple interest for 3 years = 12005 - 9800 = 2205 

Principal = (9800-3675) = 6125
R= (100 * 3675) / (6125 * 5) = 12%

Prev Tutorial Next Tutorial

Google Advertisements

We have more than 5 Groups which have 500000+ Members and some Pages have more than 100000+ members. If you want to post your article on our website/FB Group/FB Page please contact on [email protected] or 8076671483

Buy This Ad Space @$50 per Month, Ad Size 600X200 Contact on: [email protected] or 8076671483

Path variable is set for providing path for all Java tools like java, javac, javap, javah, jar, appletviewer which are used in java programming. All these tools are available in bin folders so we set path upto bin folders.

Classpath variable is set for providing a path for predefined Java classes which is used in our application. All classes are available in lib/rt.jar so we set classpath upto lib/rt.jar.

Cloud computing is the on demand availability of computer system resources, especially data storage and computing power, without direct active management by the user.

College Projects Related to Java, AWT, C Projects for College, C++ Projects for College, Android Projects.

Download Projects

Adsense Advertisements


Buy This ads Space 8076671483

Buy This Ad Space @$120 per Month, Ad Size 300X600 Contact on: [email protected] or 8076671483 Try this Keyword C++ Programs