Answer:
The value of interest charged after 4 years = $ 960
Step-by-step explanation:
Principal amount P = $ 8000
Rate of interest R = 3 %
Time = 4 year
Simple interest = [tex]\frac{P R T}{100}[/tex]
⇒ S.I. = 8000 × 4 × [tex]\frac{3}{100}[/tex]
⇒ S.I. = $ 960
This is the value of interest after 4 years.
