Answer:
3000
Explanation:
SI = P × R × T
Use simple interest formula.
20000 × 5% × 3
1000 × 3
= 3000
3,000
Loan = 20,000
Simple Interest per year = 5% of 20,000
=>
=> 5 * 200
=> 1,000
Simple Interest for 3 years = 3 * 1000
=> 3,000
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