Simple Interest (SI) = (Principal x Rate x Time) / 100
Given:
Principal (P) = Rs. 3000
Rate (R) = 11% per annum
Time (T) = 2 years
SI = (3000 x 11 x 2) / 100
SI = 660
Total Amount = Principal + Simple Interest
Total Amount = 3000 + 660
Total Amount = 3660
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120 Mins English English20 Questions20 Marks15 Mins English English200 Questions200 Marks120 Mins EnglishOn an amount of ₹2,00,000, a bank gives ₹1,04,175 as interest in 3 years. If the interest is compounded annually, then what is the interest rate per annum?
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