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How much simple interest is to be paid o...

How much simple interest is to be paid on a loan of Rs.20000 at `18%` per annum for a period of 3 yeaRs.?

Text Solution

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`P=Rs.20000,R=18%,T=3" yeaRs."`
`SI=(PTR)/(100)`
`SI=(20000xx3xx18)/(100)=600xx18=Rs.10800`
`:." Interest to be paid at the end of 3 yeaRs."=Rs.10800`
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