Question

At a rate of 10 p.c.p.a., what would be the interest for one year on Rs 6000?

Answer 1

Principal Amount = Rs 6000 

Rate of Interest = 10 p.c.p.a. 

Let interest on principal Rs 6000 be Rs x. 

By taking ratio of the interest to the principal for both, we obtain an equation x 10

∴ The interest for one year is Rs 600.