how I became 3 in last step?

Aug 2014
507
1
India
P = 8000, R= 12.5%; T = 3 years

Solving the problem in I/P format

R = 12.5% i.e 1/8. (1/8 = I/P) (I means interest; P means principal)

P = 8 corresponds to 8000
I = 3 corresponds to 3000.

I didn't understand how I became 3 in last step?
 

topsquark

Math Team
May 2013
2,383
994
The Astral plane
I don't know why you are counting in 1000's but there's two ways, both using I = PRT.
1)I = PRT = 8000 x 12.5% x 3 = 3000. So in thousands, that's 3.
2)I = PRT = 8 x 12.5% x 3 = 3.

-Dan