Question

If the Principal amount is Rs. 1000/- and rate of interest is 6% per annum, what
shall be the interest in 3 years six months?
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Answer 1

Answer:

Simple Interest=Rs. 210

Amount=1210

Step-by-step explanation:

Principal=Rs. 1000

Rate of interest=6% p.a.

Time = 3 years 6 months=3.5 years=35/10 years

Simple Interest=Principal*Rate of Interest*Time/100

                        =1000*6*35/100*10

                        =Rs. 210

Amount=Principal+Simple Interest

            =Rs. 1000+Rs. 210

            =Rs. 1210