Question

Principal =1000 Rate =8% Time =3 year Interest =? Amount =? find the interest and amount ? ​

Answer 1

Answer:

The value of interest will be 240.

The amount will be 760.

Step-by-step explanation:

In context to the question asked,

We have to find the interest and amount,

As per data given in the question,

Principal ( P ) = 1000

Rate ( R ) = 8%

Time ( T ) = 3 year

For calculating the interest,

The formula to be used:-

$S.I = \frac{P \times R \times T}{100}$

Now, plug the value in the formula:

$S.I = \frac{1000 \times 8 \times 3}{100}$

$S.I = \frac{24000}{100}$

$S.I =240$

For calculating the amount,

The formula to be used:-

${Amount = P - S.I}$

Now, plug the value in the formula:

Amount = $1000 - 240$

Amount = $760$

Hence, the required solution is -

( i ) Interest = $240$

( ii ) Amount = $760$