3. What sum of money will earn an interest of 162 in 3 years at the rate of
12% per annum?
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Answer: Rs 450
Step-by-step explanation:
Given :
Interest = Rs 162
Time = 3 years
Rate = 12℅ p.a.
To find : Principal
Using formula :
SI = P×R×T/100
Substituting the values ;
162 = P×12×3/100
P = 162×100/12×3
= Rs 450
Hence, Rs 450 is the required sum of money.
Hope it helps you!
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