Question

A sum of money amounts to 855 in 3.5 years at the rate of 4℅ p.a simple interest . Find the sum

Answer 1

Answer:

750

Step-by-step explanation:

Answer 2

Answer:

The sum that was initially was Rs 750.

Step-by-step explanation:

As per the question,

We need to find the principle for the simple interest problem.

As we know, Given data is:

Amount obtained after applying interest (A) = Rs 855

Time of which interest was applied (T) = 3.5 years

Rate of interest on the principle (R) = 4%

Principle (P) = ?

As we know, form the formula of simple interest :

$A = P + \frac{PRT}{100} \\\\855= P +\frac{P\times 4\times3.5}{100} \\\\855 = \frac{114P}{100} \\\\P=\frac{85500}{114}\\\\\ P=750$

Hence,

The sum that was initially was Rs 750.

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