How do you calculate 10 percent interest?

Okay, so someone asked how to calculate 10 percent interest, huh? Well, let’s say I had, oh, I don’t know, Rs 10,000 just chilling in my bank account, and someone came along and offered me a sweet 10% simple interest for six years. Here’s how I’d wrap my head around it.

Basically, you’re making 10% of that original Rs 10,000 every single year. Think of it like this: 10% of 10,000 is Rs 1,000. So, after one year, you’d have Rs 11,000. Cool, right?

Now, over six years… that’s where it gets even better! You’re getting that Rs 1,000 every year, so that’s 6 years times Rs 1,000… which equals Rs 6,000 in total interest. Which means, at the end of those six years, I’d be sitting on Rs 16,000! Not bad, eh?

So, in a nutshell, you’re looking at a total of 60% gained over those six years (because 10% multiplied by 6 equals 60%). Not too shabby at all!

Although… I gotta be honest, I’d probably be a little tempted to see if I could find some investments with even higher returns, you know? Gotta chase those dreams! But hey, 10% simple interest is definitely a solid option, especially if you just want something safe and reliable.