SIMPLE INTEREST B3

Dikshi deposited the amount of 6000/= in a bank which gives an interest rate of 3% for 2 years. Find the simple interest she got?

Solution

I = ?,  P = 6,000/=, T = 2 years, R = 3%

I  = PRT

      100

I  = 6000 x 3 x 2

            100

I  = 6000 x 3 x 2

            100

I  = 60 x 3 x 2

           

I  = 360/=

Hence the simple interest was Tsh 360/=