Answer:
The simple interest accumulated on a principal of ₹20,000 at a rate of 12% per year for 4 years is ₹9600.
Step-by-step explanation:
Given
Principle P = ₹20,000
Rate r = 12% per annum = 0.12 per annum
Time period t = 4 years
To determine
Simple Interest I = ?
Using the simple interest formula equation
I = Prt
substituting P = 20000, r = 0.12, t = 4
I = 20000 × 0.12 × 4
I = ₹9600
Therefore, the simple interest accumulated on a principal of ₹20,000 at a rate of 12% per year for 4 years is ₹9600.
