Question

9. What sum of money lent out at 6.25% per annum simple interest produces 7 37.50 as interest in 8 months ?​

Answer 1

Answer:

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Answer 2

Step-by-step explanation:

S.I= 737.50, R= 6.25, T= 8/12=2/3

S.I= PRT/100

737.50= P (6.25)2/3 × 1/100

737.50= P (6.25) 2/300

737.50= P (6.25) (0.0066)

737.50= P (0.0416)

P= 737.50/0.0416

P= 17728.365

P= Rs.17728