ICSE Class 6 Answered

Diego deposited $ 10000 for 4 years at a rate of 6% p.a. Find the interest and amount Diego got.

Asked by Topperlearning User | 27 Sep, 2017, 10:17: AM

Expert Answer

Principal (P) = $ 10000,

Time (T) = 4 years,

Rate (R) = 6% p.a.

Simple Interest (SI) = {Principal (P) × Rate (R) × Time (T)}/100

= (10000 x 6 x 4)/100

= $ 2400

Amount (A) = Principal (P) + Interest (I)

= 10000 + 2400

= $ 12400

The interest Diego got = $ 2400.

Therefore, the amount Diego got $ 12400.