a borrowed amount of rupees 6000 from the amount 8800 in 5 years .how much will rupees 9500 amount be in 3 years at the same rate
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Answer:
Given principal = 6000 Rs
Time = 3 years 8 month =
3
11
years.
Rate = 12% per annum
We know simple interest =
100
PRT
SI=
100
6000×12
×
3
11
SI=24×11=2640
SI=2640Rs
Now amount = principal + SI
= 6000+2640
[ amount = 8640 Rs]
∴ 8640 Rs is that amount which will clear off her debt.
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