Question

9. What sum lent out at 5% for 4 years will produce
3,000 simple interest ? Find the amount also.
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Answer 1

Answer:

2500

Step-by-step explanation:

Let the principal amount be x

Given :- Time (T)= 4 years

Rate (R) = 5%

Amount (A) = 3000

To find :- Principal Amount (P)

Solution :- Let the principal amount(P) be x

then, As we know,

A = (P*R*T)/100 + P

=> 3000 = (x*5*4) /100 + x

=> 3000 = 0.2x + x

=> 3000 = 1.2x

=> 3000/1.2= x

=> 2500 = x

Hence, the principal amount (P) invested is 2500