if principal =8000 time=3 year and 3 months rate=3percent per annum what is interest
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Answer:
Principal = 8000
Time = 3yrs
Rate of interest = 3 per cent per annum
Interest = Principal x Rate of interest x Time /100 = 8000 x 3 x 3 / 100 = 720
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Principal = 8000
Time = 3 year 3 months
= 13/16
( 4 years = 48 months
3year 3 months = 39 months
39/48 = 13/16)
Rate = 3%
PTR/100 = 8000×13/16×3/100
= 8000×13×3/100×16
= 195
Interest = 195
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