Question

Find SI for the following.
Rs. $68000$ at $16\frac{2}{3}\%$ p.a. for $3$ years.

Answer 1

Given principal amount is Rs. $68000$

Interest rate is $16\frac{2}{3}$% p.a i.e., $\frac{50}{3}$% p.a (for 3 years)

After 3 years the interest amount is $\frac{\frac{50}{3}}{100}\times 68000$

$=Rs.\frac{34000}{3}$

For $3$ years simple interest $SI=3\times \frac{34000}{3}$

$=Rs.34000$