Question

shikha deposited Rs 2000 in a bank which pays 6% simple interest. what will be her balance after 3 years​

Answer 1

Step-by-step explanation:

Given :-

Shikha deposited Rs 2000 in a bank which pays 6% simple interest.

To find :-

What will be her balance after 3 years ?

Solution :-

Given that

Deposited amount (P) = Rs. 2000

Rate of Interest (R) = 6%

Time (T) = 3 years

We know that

Simple Interest (I) = PTR/100

=> I = (2000×3×6)/100

=> I = 36000/100

=> I = 360

Simple Interest for 3 years = Rs. 360

We know that

Amount = Principle + Interest

=> Amount = 2000+360

=> Amount = Rs. 2360

Answer:-

The balance of Shiksha after 3 years is Rs. 2360

Used formulae:-

→ Simple Interest (I) = PTR/100

• P = Principle
• T = Time
• R = Rate of Interest

→ Amount = Principle + Interest