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Find the simple interest on ₹5,000 as a sum borrowed at 4% per year rate of interest for 5 years.
₹800
₹1,200
₹1,300
₹1,000
₹1,000
Calculate 4% of 5,000 which is 200, then multiply by the 5 years to get 1,000 directly.
Principal P = ₹5,000, Rate R = 4% per annum, Time T = 5 years
SI=100P×R×T
Calculate 4% of 5,000 which is 200, then multiply by the 5 years to get 1,000 directly.
Confusing Simple Interest (SI) with Compound Interest (CI), or miscalculating the percentage by failing to multiply by the number of years.
Identify given variables
Identify the principal amount, rate of interest, and time period provided in the problem.
P=5000,R=4,T=5
Apply Simple Interest Formula
Substitute the values into the standard simple interest formula.
SI=1005000×4×5
Simplify and calculate
Cancel the zeros in the numerator and denominator: 5000×4=20000, then divide by 100 or calculate 50×4×5.
SI=50×20=1000
D is correct because the calculated simple interest is ₹1,000.
Understanding simple interest is the foundation for mastering compound interest, where interest is added back to the principal annually.
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