Question

Gopal borrows rs3200 from a bank which charges interest at the rate of 10% per annum. Calculate the amount Gopal has to repay after 3 years.

Answer 1

Answer:

$we \: know \\ simple \: interest \\ si \: = \frac{p \times r \times t}{100} \\ si \: = \frac{3200 \times 10 \times 3}{100} \\ = 960$

So amount paid by Gopal after 3 years = P + SI

= ₹3200 + ₹960

= ₹4160