Given:
Principal = Rs. 6000
Rate of simple interest = 6% per annum.
Time = 4 years
To find:
The simple interest and amount.
Solution:
Formula for simple interest:
[tex]I=\dfrac{P\times r\times t}{100}[/tex]
Where, P is principal, r is the rate of interest and t is the number of years.
Putting P=6000, r=6 and t=4, we get
[tex]I=\dfrac{6000\times 6\times 4}{100}[/tex]
[tex]I=60\times 6\times 4[/tex]
[tex]I=1440[/tex]
Now,
[tex]Amount=Principal+Interest[/tex]
[tex]Amount=6000+1440[/tex]
[tex]Amount=7440[/tex]
Therefore, the simple interest is Rs. 7440 and the amount is Rs 7440.
