Question

Calculate the interest to be paid at the end of 3 years ,if Hari borrowed Rs 30000 at 3% interest per year

Answer 1

2700

Explanation:

Given data

Time= 3 years

Principal= 30000

Rate= 3%

The simple interest formula is given as

SI=PR/100

substitute

SI= 30000*3*3/100

SI= 270000/100

SI= 2700

Hence the Interest is 2700