Question

Find simple interest on 47000 for 3 years at the rate of 11℅per annum.Find the amount.

Answer 1

principal =P=Rs47000
time= T=3 yrs

rate of interest =R= 11%

I = PTR/100
=(47000*3*11)/100
=Rs15510
amount= P+I
=47000+15510
=Rs62510

Answer 2

interest= P r t ÷100
= (47000×3×11)÷100
interest = 15510

Amount A= P( 1+ r × t)
A= 47000(1+(3×11))
A= 47000(1+33)
= 47000(34)
A=1598000