Question

A sum of money lent for 12% p.a. for simple interest 3 yrs yields a certain amount of interest. if lent for 5 yrs, it wouldve yielded 2040 more. find the sum

question of simple interest pls answer

Answer 1

Principal:

The money which we deposit in or the lower from the bank or the money learned called the principal.

Rate of interest:

The interest paid on $ 100 for one year is called the rate per cent per year or rate per cent per annum.

Time:

The period of time for which the money is lent or invested.

Interest:

Additional money paid by the borrowed to the lender for using the money is called interest.

Simple Interest:

If the interest is calculated uniformly on the original principal throughout the lone period, it is called simple interest.

Amount:

The total money paid back to the lender is called the amount.

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Answer 2

Step-by-step explanation:

Principal:

The money which we deposit in or the lower from the bank or the money learned called the principal.

Rate of interest:

The interest paid on $ 100 for one year is called the rate per cent per year or rate per cent per annum.

Time:

The period of time for which the money is lent or invested.

Interest:

Additional money paid by the borrowed to the lender for using the money is called interest.

Simple Interest:

If the interest is calculated uniformly on the original principal throughout the lone period, it is called simple interest.

Amount:

The total money paid back to the lender is called the amount.

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hope this will help you...