calculate the simple interest and the amount if principal = ₹ 35000, annual rate of interest = 6% and time = 2 year 4 month
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Answer:
Principal (P) = Rs.35000
Rate (R) = 6%
Time (T) = 2 years 4 months = 2⅓ years = 7/3 years
Simple Interest (SI) = PRT/100
=> SI = 35000 × 6 × 7/3 × 1/100
=> SI = Rs.4900
Amount = P + SI = Rs.(35000+4900) = Rs.39900
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