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*********Simpleinterestvi*********
Simple intrest:Before explaning simple interest let's understand the term Principal,Rate and Time.

Principal:The amount or sum of money which is provided as a loan.

or sum of money deposited on a bank at certain period of time is called Principal

Rate: Rate is defined as percentage of Principal at which interest is deducted or deposited at fixed time period.
Time:The fixed time period is called time.
Amount:The total sum of Principal and interest is called Amount.
Interest:The money which a person or company pays is called interest.
Let S.I=simple interest, P=Principal,r = rate,t=Time period
S.I= (p*r*t)/100

T= (S.I*100)/(p*r)
r=(S.I*100)/(p*t)

********CHECK OUT SOLVED EXAMPLES********

Q1.Find simple interest when p=3500,r=5%,t=7years
Ans:I=(3500*5*7)/100

check the answer!!!
 2)Find the Principal when rate is 5%,interest is Rs.1200 and time period is 2 years.
Ans:p= (I*100)/r*t = (1200*100)/2*5 = 12000

check the answer!!!
Q3:Suresh bought a scooter at Rs45,678 at a loan of 10% per annum from a bank,find the interest paid by Suresh up to 5 years.

check the answer!!!
 Q4:Suresh has bought one T.V at Rs.15000 in loan from a bank at a rate of 11.4% per annum

by paying interest Rs.4500.Find the time period to complete the loan

Ans:T=(I*100)/(P*R)
=25/9=2years7months

check the answer!!!
Q 5:Find the rate percentage,Mohan took the loan of Rs.52000 by paying interest Rs.5000 per annum for 13 years.
Ans:r=(I*100)/(p*t)=(5000*100)/(52000*5)
=5%
check the answer!!!
 Q 6:Find the interest and amount paid by a customter having sum of money Rs.986000 for 5 years at the rate of 9% per annum.
Ans:I=(P*R*T)/100
=(986000*9*5)/100
=9860*45 = Rs.443700
check the answer!!!

********TRY BY YOURSELF********

Q1.Find the value of x in the following problem

     Questions: Amount  Principal  Interest   Rate per annum  Time
      a)           X      5000       450      8%              5years
      b)          5500    2500       X        12%             8years
      c)          7500      X       4356      11.5%           6years
      d)          8500    5500      3000      X               7years
      e)          7800    5600      1600      10%              X
Q2:Find the simple interest on Rs.6000 at 9% per annum for 2 years.
Q3:Find the simple interest on Rs.7200 at (11/2)% per annum for 3 years.

Q4:What sum of money will fetch Rs.170.10 as S.I in 2 years at 6% per annum.
Q5:Calculate the rate percent per annum of simple interest Rs.168 is paid on 700 for 18 months.
Q6:What would be the rate percent for sum of money Rs. 7000 at interest of 1550 for 5 years.
Q7:Mohan took the loan of 150,000 from a bank, paid the bank 175,000.What would be the interest for 8.5% at time period of 3 years.
Q8:Suresh deposited Rs.6550 to a bank at a rate of 9% for 7 years.How much amount he would get from bank after seven years.
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