Question

Vinita deposited Rs. 15000 in a bank for one year at an interest rate of 7 p.c. p.a. How much interest will she get at the end of the year?

Answer 1

Let us suppose that the interest on the principal of Rs. 15000 is x.

On principal Rs. 100, the interest is Rs. 7.

`x/(15000) = 7/100`

`x/(15000) xx 15000 = 7/100 xx 15000`.......(Multiplying both sides by 15000)

x = 1050
Vinita will get an interest of Rs. 1050.