8,000 is invested at 5 1/4% per annum simple interest for 3 1/2 years. Find the interest and final amount.
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Answer:
simple interest= 1470
final amount = 9470
Step-by-step explanation:
5 1/4% = 21/4%
3 1/2 yrs = 7/2 yrs
formula of simple interest = p×n×r/100
therefore , 8000×21×7/100×4×2
= 1470
Simple interest is 1470 rs
Amount = principal + interest
A = 8000 + 1470
A = 9470
Amount is 9470 rs
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