Question

a sum at simple interest of 4% per annum to 3120 in 5 years. find the sum?

Answer 1

Si=p×r×t/100
3120×4×5/100=624

Answer 2

Answer:

The sum borrowed is Rs.15600.

Step-by-step explanation:

Given : A sum at simple interest of 4% per annum to 3120 in 5 years.

To find : What is the sum ?

Solution :

Applying interest formula,

$I=P\times R\times T$

Where, I=Rs.3120 is the interest

R=4%=0.04 is the interest rate

T=5 year is the time

P is the principal or sum

Substitute the value in the formula,

$3120=P\times 0.04\times 5$

$P=\frac{3120}{0.04\times 5}$

$P=15600$

Therefore, The sum borrowed is Rs.15600.