Question

Saba deposited rupees 18000 in a bank for 3 years which pays 6 % interest per year find the simple interest she will get at the end of 3 years

Answer 1

Simple interest can be calculated from the formula as follows S. I=(P×R×N)/100 where p is the principal, r is the rate of interest and n is the number of years or months.

So simple interest = (18000 × 6 × 3)/100 =180×6×3 si =3240 rs.

So Saba will get 3240 rs simple interest at the end of 3 years.