A sum of money lent for 3 years at 12% p.a.
yields a simple interest of 2340. If it was
lent for 5 years, the interest would have been
3900. Find the sum of money.
Answers
Step-by-step explanation:
It began after the stock market crash of October 1929, which sent Wall Street into a panic and wiped out millions of investors. Over the next several years, consumer spending and investment dropped, causing steep declines in industrial output and employment as failing companies laid off workers.
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Great Depression: Black
Answer:
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Step-by-step explanation:
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.