Principal =Rs.55,500 Time=2year Rate of interest(R)=7.5 persent

To calculate the simple interest on a principal of Rs. 55,500 at a rate of 7.5% for 2 years, we can use the formula:

\[
\text{Simple Interest} = \frac{P \times R \times T}{100}
\]

Where:
- \( P \) is the principal amount (Rs. 55,500)
- \( R \) is the rate of interest (7.5%)
- \( T \) is the time period (2 years)

Substituting the given values:

\[
\text{Simple Interest} = \frac{55,500 \times 7.5 \times 2}{100}
\]

Let me calculate that for you.The simple interest for a principal of Rs. 55,500 at a rate of 7.5% over 2 years is Rs. 8,325.

Do you want further details, or have any questions about this calculation?

Here are some related questions you might find useful:
1. How do we calculate the total amount (Principal + Interest) after 2 years?
2. What happens if the rate of interest changes to 8%?
3. How would the interest be calculated if compounded annually instead of using simple interest?
4. What if the time period is extended to 3 years at the same rate?
5. Can you explain how to calculate compound interest for this scenario?

**Tip:** For quick estimation of simple interest, multiply the principal, rate, and time, then divide by 100.

Principal = Rs.55,500 Time = 2 years Rate of interest (R) = 7.5%

Learn how to calculate simple interest on a principal of Rs.55,500 at a rate of 7.5% for 2 years. Understand the basic algebraic formula used to determine simple interest and how it's applied in this scenario. Suitable for students in Grades 5-7.

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