A Student obtains a simple interest loan to pay one year college fees which costs Rs 18000 and the animal interest rate on the loan is 6%. The student repays the loan over 3 years. What is the amount of simple interest?
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Answer:
S.I= 3240
Amount= 21240
Step-by-step explanation:
SI= (prt)/100
(18000×6×3)/100
324000/100
3240= S.I
Amount= p+SI
18000+3240
21240= Amount
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