A sum of Rs100 is invested at 8%. Simple interest per annum. Calculate the interest at the end 1,2,3.....years.
See previous post.
8%/100*100
=
To calculate the simple interest for each year, we'll use the formula:
Simple Interest = (Principal × Rate × Time) / 100
In this case:
Principal (P) = Rs100
Rate (R) = 8%
Now, let's calculate the interest for each year:
For year 1:
Simple Interest = (100 × 8 × 1) / 100 = Rs8
For year 2:
Simple Interest = (100 × 8 × 2) / 100 = Rs16
For year 3:
Simple Interest = (100 × 8 × 3) / 100 = Rs24
And so on...
As we can see, the interest increases linearly with each year, with Rs8 more interest being added each year.