Answer: [tex]\$3360[/tex]
Step-by-step explanation:
Given
The rate of interest is [tex]6\%[/tex]
Time period is [tex]2\ \text{years}[/tex]
Principal amount [tex]P=\$3000[/tex]
Simple interest is given by
[tex]S.I.=\dfrac{P\times R\times T}{100}\\\\\text{Insert value}\\\\\Rightarrow S.I.=\dfrac{3000\times 6\times 2}{100}\\\\\Rightarrow S.I.=\$360[/tex]
Total amount paid
[tex]=3000+360\\=\$3360[/tex]
