Question

Utpalbabu took a loan of ₹ 3200 for 2 years from a Cooperative bank for the cultivation of his land at the rate of simple interest of 6% per annum. Let us write by calculating the money she has deposited in the bank.

December 27, 2023

Answer

Here, Principal (P)= ₹ 3200

Rate (r) = 6%

Time (t) = 2 years

Simple Interest (I) = $\frac{\text { Prt }}{100}$

= ₹ $\text{ ₹ } \frac{3200 \times 6 \times 2}{100}$

= ₹ 384

∴ Amount = ₹ 3200 + ₹384 = ₹ 3584

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