Question

Find the amount of a loan of ₹ 3000 at 4 % per annum and for 5 years.

Answer 1

$\bf{\underline{\underline{\bigstar \: Solution : }}}$

$\footnotesize{ Amount = P + \frac{PTR}{100} }$

$\footnotesize{\implies Amount = 3000+ \frac{3000 \times 5 \times 4}{100} }$

$\footnotesize{\implies Amount = 3000+ \frac{30 × 5 × 4}{1} }$

$\footnotesize{\implies Amount = 3000+ 600 }$

$\footnotesize{\implies Amount = 3600 }$