Question

11. A sum of money put at 11% per annum simple interest amounts to 10370 in 2 years. What will
it amount to in 3 years at the same rate?
​

Answer 1

Answer:

Let the principal be x

Amount = Rs 10,370

Simple interest = Amount - Principal

Simple Interest= 10370-x

Rate of interest = 11%

Time = 2 years

Simple interest = \frac{P \times R \times T}{100}

100

P×R×T

\begin{gathered}10370-x=\frac{x \times 11 \times 2}{100}\\x=8500\end{gathered}

10370−x=

100

x×11×2

x=8500