Question

Find the amount if principal =Rs. 2000, Rate=6% pa, Time =3 years​

Answer 1

Answer:

Simple Interest Equation (Principal + Interest)

A = Total Accrued Amount (principal + interest) P = Principal Amount. I = Interest Amount. r = Rate of Interest per year in decimal; r = R/100.

Step-by-step explanation:

A = rs 8,360.00

I = A - P = rs 6,360.00

Equation:

A = P(1 + rt)

Calculation:

First, converting R percent to r a decimal

r = R/100 = 6%/100 = 0.06 per year.