Question 128

What would be the simple interest obtained on a amount 5670 at the rate of 6 pcpa after 3 years?

Solution

Principal amount = Rs. 5,670

Time period = 3 years and rate = 6% under simple interest.

=> $$S.I. = \frac{P \times R \times T}{100}$$

= $$\frac{5670 \times 6 \times 3}{100}$$

= $$56.7 \times 18 = Rs. 1,020.6$$

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