Question

Rashid lent rs 8000 to sumit at 8% per annum. what's the amount sumit will repay after 3 years to rashid.​

Answer 1

Answer:

Rs 9920

Step-by-step explanation:

P×I×T= INTEREST

100

8000×8×3

100

1920

total amount = 8000+ 1920 = Rs 9920

Answer 2

Answer:

Rs. 9920

Step-by-step explanation:

Principal amount (P)/Initial amount given to Sumit = Rs. 8000

Rate of interest (R) = 8% p.a.

Time (T) = 3 years

Simple Interest/Interest formula = P x R x T/100

                                                                 = 8000 x 8 x 3

                                                                   ---------------------

(the hyphens/dashes                                         100

represent division bar)          

                                                                 

(after cancelling common number of zeros (2 zeros, underlined) in 100 and 8000)

                                                                                                      = 80x8x3

                                                                                                      = 80x24

                                                              Simple Interest/Interest = 1920

(Extra Info/Tip: multiply 24x8 and put a 0 at the right side end of the product to decrease your work instead of completely multiplying 80x24. Applicable to whole numbers only with 0/zeros at the right end )

We need to find the total amount that needs to be paid back to Rashid. Therefore, we need to add the interest and the principal amount to get that.

Principal amount = 8000

Simple Interest/Interest = 1920

Total amount to be paid = 8000+1920 = 9920

(The currency of the amount given is Rs) = Rs. 9920