Question

5. What sum of money lent out at 12 per cent p.a. simple interest would produce ₹ 9000
as interest in 2 years?

Answer 1

Step-by-step explanation:

given,

rate of interest=12%per annum

time=4 years

simple interest=₹9000

therefore,

p*r*t÷100=9000

p*12*2=9000*100

p=9000*100÷12*2

p=37500