Answer:
To calculate the simple interest, we say
S.I = (PxRxT)/100
Where P = the principal amount
R= rate in terms of %
And T= time.
Now P= $100 000
R= 8%
T= 3 years
S.I= (100,000 x8 x3)/100
=$2 400 000/100
= $24, 000
So the interest is 24000
Total amount he will be having = 100000 + 24 000
The total money he will be having in 3 years time = $124 000
Step-by-step explanation:
