Question

find the simple intreast on Rs. 24,000 for 4 years at 7% per annum?​

Answer 1

Answer:

I=Rs.2,400

I=PRT/100

2400=P*4*6/100

P=Rs.10,000

Compound Interest Formula:A=P(1+R/100)^T

=10,000(1+4/100)^6

=Rs.12,653

*=Used as multiplication symbol

I=Simple Interest

P=Principle Investment

A=Amount

R=Rate

T=Time/annum