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8000 become 10000 in 2 years at a simple interest the amount will be be 6875 in 3 years at the same rate of interest is?
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8000 become 10000 in 2 years at a simple interest the amount will be b...
Calculating the Amount after 3 years:
To calculate the amount after 3 years at the same rate of interest, we can use the formula for simple interest:
Simple Interest = Principal x Rate x Time
Given that the principal amount is 8000, and it becomes 10000 in 2 years, we can calculate the rate of interest as follows:
Rate = (10000 - 8000) / (8000 x 2) = 0.0625 or 6.25%
Now, we can calculate the amount after 3 years using the same formula:
Amount = Principal + Simple Interest
Amount = 8000 + (8000 x 0.0625 x 3) = 6875
Therefore, the amount after 3 years at the same rate of interest is 6875.
Explanation:
- The principal amount is the initial amount of 8000.
- The amount becomes 10000 in 2 years, indicating a simple interest of 2000.
- By calculating the rate of interest, we find it to be 6.25%.
- Using this rate, we calculate the amount after 3 years, which comes out to be 6875.
This explanation breaks down the calculation process and provides a clear understanding of how the amount after 3 years is determined.
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8000 become 10000 in 2 years at a simple interest the amount will be be 6875 in 3 years at the same rate of interest is?
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8000 become 10000 in 2 years at a simple interest the amount will be be 6875 in 3 years at the same rate of interest is? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about 8000 become 10000 in 2 years at a simple interest the amount will be be 6875 in 3 years at the same rate of interest is? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 8000 become 10000 in 2 years at a simple interest the amount will be be 6875 in 3 years at the same rate of interest is?.
8000 become 10000 in 2 years at a simple interest the amount will be be 6875 in 3 years at the same rate of interest is? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about 8000 become 10000 in 2 years at a simple interest the amount will be be 6875 in 3 years at the same rate of interest is? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 8000 become 10000 in 2 years at a simple interest the amount will be be 6875 in 3 years at the same rate of interest is?.
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