Question

A sum amounts to R.S 3720 in 8 months at 5℅ per annum simple interest. Find the sum .​

Answer 1

Answer:

please tell me whether it is right or wrong......

Answer 2

The Required Sum is Rs. 3600

Step-by-step explanation:

Simple interest(SI) = $PRT$

Where:

P is the Principle

R is the Rate

T is the Time.

Amount = SI + P

We are given:

Amount(A) = Rs 3720

Time(T)= 8 months = $\frac{8}{12}Years$

Rate(R)=5% = 0.05

We need to find P.

A = SI + P

P = A - SI

Substituting the formula for SI.

P = A - PRT

Substituting the known values

$P=3720-P\times 0.05\times \frac{8}{12} \\\\\Rightarrow P=3720-\frac{.4}{12}P \\\\\Rightarrow P=3720-\frac{1}{30}P \\\\\Rightarrow P=3720-\frac{1}{30}P \\\\\Rightarrow P+\frac{1}{30}P=3720-\frac{1}{30}P+\frac{1}{30}P\\\\\Rightarrow \frac{31}{30}P=3720\\\\\Rightarrow P=\frac{3720\times 30}{31}\\\\\Rightarrow P = 3600.$

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The ratio of difference between compound interest and simple interest and simple interest for 3years

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