Anita took a loan of ₹8,000 at a simple interest rate of 7% per annum for 3 years. What will be the simple interest and the total amount she has to repay after 3 years?
SI = ₹1,680; Total = ₹9,680
Simple interest \(SI = \frac{P \times R \times T}{100}\).
\(SI = \frac{8000 \times 7 \times 3}{100} = 80 \times 21 = 1680\)
Total amount \(= P + SI = 8000 + 1680 = 9680\).
Hence, SI = ₹1,680 and the total amount to repay is ₹9,680.
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