Question

Saba deposit rs 18000 in a bank for 3 years which pays 6% interest per year find the simple interest we will get at end of 3 years

Answer 1

Saba will receive a sum of Rs. 3240 as interest at the end of 3 years for the amount 18000.

Explanation:

Yearly interest on the Principal:  18000x (6/100) = 1080

Total interest for for 3 years = 1080 x 3 = Rs. 3240