Question

Mr Chawla took a loan from the bank for rupees 640 at the rate 11% for 3 years at simple insert how much interest and amount will he have to pay back after the three years

Answer 1

simple interest :)

p*r*t/ 100

640*11*3/100

211.2

Answer 2

According to question,

Principal(P) = rupees 640

Rate of interest(R%) = 11%

No. of years(T) = 3 years

As, Interest(I) = P*R*T/100

= 640*11*3/100

= rupees 211.2

As, amount = P+I = 640+211.2

= rupees 851.2

I hope you are satisfied with the answer.