Question

A sum invested at 8% interest rate per annum for 3 years earns an interest of Rs 4800. Find the sum invested.

Answer 1

here is ur answer
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Answer 2

Given,

Rate of interest per annum = 8%

The time period for which the sum was invested = 3 years

Interest obtained = Rs.4800.

To Find,

The sum invested.

Solution,

The formula for simple interest, I = $\frac{PTR}{100}$

On substitution,

$4800 = \frac{P(3)(8)}{100}$

⇒$P= \frac{(4800)(100)}{(3)(8)}$

⇒$P = 20,000$

Henceforth, the sum invested is Rs.20000.