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Find the simple interest for `7,000 borrowed at 8% rate of interest for 6 years. Also
calculate the amount after 6 years.

To solve the problem:

**Given:**
- Principal (P) = ₹7,000
- Rate of interest (R) = 8% per annum
- Time (T) = 6 years

### Step 1: Calculate the Simple Interest (SI)
The formula for Simple Interest is:

\[
SI = \frac{{P \times R \times T}}{100}
\]

Substitute the given values:

\[
SI = \frac{{7,000 \times 8 \times 6}}{100} = \frac{{336,000}}{100} = ₹3,360
\]

### Step 2: Calculate the Total Amount after 6 years
The total amount \( A \) is the sum of the principal and the interest:

\[
A = P + SI = 7,000 + 3,360 = ₹10,360
\]

### Final Answer:
- Simple Interest = ₹3,360
- Total Amount after 6 years = ₹10,360

Would you like more details on any step or have any questions?

Here are 5 related questions you might explore:
1. How would the interest change if the time were 10 years instead of 6?
2. What happens if the interest rate increases to 10%?
3. How is compound interest different from simple interest?
4. Can we calculate simple interest for a period less than 1 year?
5. What would the total amount be after 8 years at the same rate?

**Tip:** To reduce interest payments, it's beneficial to either lower the rate of interest or shorten the loan duration.

Find the simple interest for ₹7,000 borrowed at 8% rate of interest for 6 years. Also calculate the amount after 6 years.

Calculate the simple interest on ₹7,000 borrowed at an 8% rate of interest for 6 years. Find the interest amount and the total amount after 6 years with a step-by-step solution. Suitable for middle school students (Grades 6-8).

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