A sum of money put at 11% per annum simple interest amounts to Rs.10370 in 2 years. What will it amount to in 3 years at the same rate?
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principal=10370 ruppes
time =2 year
rate of interest=11%
we used the formula of interest
the formula is below:-
interest=ptr/100(here p is principal ,t is Time and r is rate of interest)
to solve the sum we follow below process☞
☞interest=ptr/100
=10370×2×11/100ruppes
=2281.4 ruppes
☞Amount =principal+interest
=10370+2281.4 ruppes
=12651.4 ruppes
in 3 years insert this formula,
principal=10370 ruppes
time =3 years
rate of interest=11%
☞interest=ptr/100
=10370×3×11/100ruppes
=3422.1 ruppes
☞interest=principal+interest
=10370+3422.1 ruppes
=13792.1 ruppes
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