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Find the simple interest and amount when principal = Rs. 6000, rate = 6% per annum and time = 4 years

User Lorcan
by
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1 Answer

6 votes

Given:

Principal = Rs. 6000

Rate of simple interest = 6% per annum.

Time = 4 years

To find:

The simple interest and amount.

Solution:

Formula for simple interest:


I=(P* r* t)/(100)

Where, P is principal, r is the rate of interest and t is the number of years.

Putting P=6000, r=6 and t=4, we get


I=(6000* 6* 4)/(100)


I=60* 6* 4


I=1440

Now,


Amount=Principal+Interest


Amount=6000+1440


Amount=7440

Therefore, the simple interest is Rs. 7440 and the amount is Rs 7440.

User Eddie Xie
by
8.2k points
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