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