A sum invested at 8% interest rate per annum for 3 years earns an interest of Rs 4800. Find the sum invested.
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here is ur answer
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hope it helps u
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akhil432:
its correct
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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 =
On substitution,
⇒
⇒
Henceforth, the sum invested is Rs.20000.
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