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6 April, 10:19

A sum of rs 400 is lent for 3 yrs at the rate of 6% per annum. Find the interest.

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  1. 6 April, 13:27
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    Interest is equal to rs 72

    Simple Interest is computed by multiplying the principal to the interest rate and the time.

    I = P * r * t

    Principal = rs 400

    Interest rate = 6%

    Term / time = 3 yrs

    I = 400 * 6% * 3

    I = 72 the total interest that must be paid in 3 yrs.
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