Question

Find the simple interest on $Rs1600$ for $2$ years at $3\%$ per annum. Also find the amount.

Answer 1

Given that,

Principal$=Rs.1600$

rate of the interest $=3$%

time$=2$ years

We know that,

$\begin{array}{c}S.I.=\frac{p\times r\times t}{100}\\ SI=\frac{1600\times 2\times 3}{100}\\ \\ SI=96\\ \end{array}$

Then,

We get amount $1696$