Question

A sum when reckoned at 15/2 per annum amounts to 3920 in 3 years. Find the sum​

Answer 1

Answer:

See below:

Step-by-step explanation:

Simple Interest

S.I=P*R*T

P=principal=sum

R=rate of interest= 7½ %=7.5 %=0.075

T=time in year=3yrs

S.I=P*R*T

S.I = P*0.075*3=0.225P

Amount is given 3920

Amount=Principle +simple interest

3920=P+0.225P

3920=P(1+0.225)

3920=P(1.225)

3920/1.225=P

3200=P

P=sum= 3200