A sum of money becomes Rs 640 after 3 years at simple rate of 5% per annum. Find the sum
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Answer: The invested sum will be Rs 40.
Step-by-step explanation: The formula for calculating Simple Interest is
A = P (1 + rt), and on putting the values we get
640 = P (1 + 5 x 3)
640 = P (1 + 15)
640 = P (16)
640 ÷ 16 = P
40 = P
Thus, the sum of money at the beginning was Rs 40.
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