Question

The profit on Rs40,000 at the rate of 3% per year for 4 years is

Answer 1

Answer: 1 year profit 40000 x 3/100= 1200

              4 year profit 1200 x 4= 4800

Step-by-step explanation: I=40,000×3×4/100=4800

Answer 2

Answer:

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Profit of your interest = $\frac{interest~×~rate~×~time}{100}$

= $\frac{40,000~×~3~4}{100}$

= $\frac{4,80,000}{100}$

= rs.4800