Question

A sum when reckoned at 7(1/2) percent per annum amounts to Ruppes in 3years. Find the sum.

Answer 1

Simple interest (s.i.) =( p×r×t)/100

Where p = principal

r = rate of interest per annum

t= time in years

In this case,

Amount (A)=3920, r= 7.5% t = 3

Amount (A) = p + s.i.

=> 3920 = p+ prt/100

=> p = 3200

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