find the S.I. on ₹16000 for 3 years at 8% ?
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SI=P×R×T÷100.
SI=P×R×T÷100.=16000×8×3÷100.
SI=P×R×T÷100.=16000×8×3÷100.=1840.
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Solution!!
The concept of simple interest has to be used here. The principal, time and rate of interest is given. We have to find the interest. There's a formula to find the interest.
Principal (P) = Rs 16000
Rate of interest (R) = 8%
Time (T) = 3 years
Let's find the interest with the help of the formula!
Interest = (P × R × T)/100
Interest = (16000 × 8 × 3)/100
Interest = 160 × 8 × 3
Interest = Rs 3840
The questioner may also ask you to find out the amount. So here's how you can find it out.
Amount = Principal + Interest
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