Question

19. What sum of money lent for 3 yr at 4% per
year will amount to 392 ? IJNV 1999]
(1) * 400 (2) 300 (3) 325 (4) * 350​

Answer 1

Answer:

350

Step-by-step explanation:

Formula : A = P (1 + rate per year)

392 = P(1 + (3)(0.04) )

Evaluate the bracket:

392 = 1.12P

Switch sides:

1.12P = 392

Divide both sides by 1.12:

P = Rs 350

Answer: The sum is Rs 350

All the best