Find the simple interest and amount when principal = Rs. 6000, rate = 6% per annum and time = 4 years

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:

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

Now,

Therefore, the simple interest is Rs. 7440 and the amount is Rs 7440.

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