Question
Rahul lent Rs. 10,000 on simple interest at 6% annually for
3 years. Find the amount returned to him after the period.Solution
ATQ,
Simple interest = Principal × Rate × Time ÷ 100
Interest earned = 10,000 × 6 × 3 ÷ 100 = Rs. 1,800
Required amount = 10,000 + 1,800 = Rs. 11,800
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