Scholarship Exam Preparation App
Class 6 - (Math )
Applied Mathematics - Simple interest and bank
A person deposits Rs 8000 in a bank at 5% for 3 years. How much Simple interest will he get?
a :
1200
b :
1000
c :
1400
d :
1500
Explanation :
Simple interest = (Principal × Rate × Duration)/100 = (8000×5×3)/100 = 1200.