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.
Answered by | 27 Sep, 2017, 12:17: PM