Subject: Mathematics
Book: Maths Mastery
Simple interest is used when interest is earned only on the original principal each period, making it less aggressive than compound interest. The formula is I = P × r × t, where P is the principal (initial amount), r is the annual interest rate (as a decimal), and t is the time in years. If you deposit ₹5,000 at 10% annual simple interest for 3 years, the interest I = 5,000 × 0.10 × 3 = ₹1,500. The amount after 3 years becomes ₹6,500. Simple interest frequently applies to short-term loans or straightforward lending agreements. Learning to compute it helps you compare financial products, negotiate loan terms, and develop a clearer view of short-term interest scenarios in everyday life.
If a = 4 and b = 5, what is the value of (a+b)^2?
View QuestionHow many diagonals does a pentagon have?
View QuestionA man invests Rs. 5000 at 5% per annum simple interest. What is the total amount after 3 years?
View QuestionWhat is the sum of all odd numbers from 1 to 99?
View QuestionThe probability of getting an even number when rolling a die is:
View QuestionIf sin(θ) = 3/5 and θ is an acute angle, what is tan(θ)?
View QuestionA cone has a base radius of 7 cm and height of 24 cm. What is its volume?
View QuestionA number is increased by 20% and then decreased by 20%. What is the net change?
View QuestionIf a+b = 10 and ab = 21, what is the value of a^3 + b^3?
View QuestionIf log(100) = 2 and log(10) = 1, what is log(1000)?
View Question