A sum of ₹40,000 is borrowed at a rate of interest 12% per annum for 3 years. Find
Answers
Answered by
1
Answer:
Amount = 54,400 as per Simple Interest method
Step-by-step explanation:
Attachments:
Answered by
0
Answer:
answer is 4400
Step-by-step explanation:
For 1st year
Principal =Rs. 40000, Rate =10%, Time =1 year
∴
Interest=
40000
×
10
×
1
100
=
400
×
10
=
R
s
.
4000
∴
Amount at the end of 1st year= Rs. (40000+4000)=Rs. 44000
For 2nd year
P= Rs. 44000,R= 10%, T= 1 year
∴
Interest= Rs.
44000
×
10
×
1
100
=
440
×
10
=
R
s
.
4400
Thus interest earned in the second year=Rs. 4400
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