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What would be the simple interest on an amount of Rs. 9600 at the rate of 6% per annum after 3 years? - Mathematics and Statistics

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Sum

What would be the simple interest on an amount of Rs. 9600 at the rate of 6% per annum after 3 years?

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Solution

Given Principal P = ₹ 9600

Rate of interest R = 6% p.a.

Number of years = T = 3

Simple Interest I = `"PRT"/100 = (9600 xx 3 xx 6)/100`

= 96 × 18

= 1728

∴ Simple interest after 3 years would be  ₹ 1728

Concept: Simple and Compound Interest (Entrance Exam)
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