Farhad deposits Rs 6000 in a bank at the rate of 6 % per annum for 3 years at simple interest. Find the amount he will get back

Question

3 years ago

12

at the end of this period.

1 answer:

Elan Coil [88] · Answer 1 · 2022-07-03T21:49:36+03:00

We have that The amount he will get back at the end of this period is

x=1080

From the question we are told that

Rs 6000

r=6\%

time t=3yrs

Generally

A=P(1+rt)

A=7080

Therefore

The amount he will get back at the end of this period is

7080-6000

x=1080

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