Question

Calculate the simple interest on 5600 for 3 years at the rate of 12% per annum. Also, find the amount to be paid at the end of 3 years

Answer 1

formula=a=p (1+r/100)power time .

Answer 2

S.I. =PRT/100

    = 5600*12*3/100 unit

    = 56*12*3 unit

    = 672*3 unit

    = 2016 unit

So, the S.I. is 2016 unit

So, the amount should be paid after 3 years = (5600+2016) unit

                                                                           =  7616 unit