Question

Q3. Do as directed :
1. Find the interest on Rs 500 for a period of 4 years at the rate of
-8% per annum. Also find the amount to be paid at the end of the period.​

Answer 1

Solution:

Given Principal amount P = Rs 500

Time period T = 4 years

Rate of interest R = 8% p.a.

We know that simple interest = (P × T × R)/100

On substituting these values in above equation we get

SI = (500 × 4 × 8)/100

= Rs 160

Amount = Principal amount + Interest

= Rs 500 + 160

= Rs 660

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