Question

Find the amount when principal is 7000, time is 6 years and rate is 8% per annum.

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Answer 1

Answer:

A = P (1+r/100 )n

A = 7000 (1+8/100)6

A = 7000 (1+2/25) 6

A 7000×27/25 ×27/25×27/25×27/25×27/25×27/25

A = 11108.138

Answer 2

Answer:

₹ 10,360

Explanation:

Principal= ₹ 7000

Rate= 8% per annum

Time= 6 years

SI = P×R×T/100

= ₹(7000×8×6/ 100)

= ₹ 3,360

Amount = Principal + Simple Interest

= ₹ 7000+ ₹ 3360

= ₹ 10, 360

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