Question

6000 is borrowed at 8% rate of interest p.a.Find the interest and amount after 3 years.

Answer 1

Given:Principal=6000₹

Time=3 years

Rate of interest=8%

To find: Interest=?,Amount=?

Solution: By using simple interest formula,

:.I=P×R×T/100

:.I=6000×8×3/100

:.I=60×24

:.I=1440₹

Amount=Principal+interest

=6000+1440₹

=7440₹

The interest is 1440₹ and amount is 7440₹

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