Finance
Interest
Calculate the interest if Bina received Rs. 1254 after 3 years of depositing Rs. 7600 in the bank.
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Calculate the interest if Bina received Rs. 1254 after 3 years of depositing Rs. 7600 in the bank.
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To calculate the interest Bina received, we need to find the difference between the amount she received after 3 years and the initial amount she deposited.
Given:
- Amount received (A) = Rs. 1254
- Principal amount (P) = Rs. 7600
Calculation:
Interest (I) = Amount (A) - Principal (P)
I = 1254 - 7600
I = -6346
Since the interest cannot be negative, there must be an error in the problem statement. The amount received (Rs. 1254) is less than the initial deposit (Rs. 7600), which doesn't make sense in a typical interest-earning scenario. Please double-check the values provided.
Assuming the amount received is Rs. 8854:
Interest (I) = Amount (A) - Principal (P)
I = 8854 - 7600
I = 1254
In this case, the interest earned would be Rs. 1254.